As buyers, we submitted a written offer, we negotiated back & forth, and the seller agreed to all terms via email 5 days later. Our offer was never signed. The seller then disclosed a major roof/fungus defect 3 days later and we questioned it. We were still prepared to move forward and asked the Seller to sign, but were told "the contract was not bi-lateral because we voiced concerns about the roof/mold". We have been waiting for the Seller to let us know how they want to proceed, and 4 weeks later, we are still waiting. Now we are told that there is another offer on the table. Is this legit?
I should explain some more, so it might cause you to see an attorney to review your situation.
Many of us Agents do not write a contract until our customers have a chance to review the sellers disclosures. We do this for very good reasons. Sellers are required to disclose defects that you can not see, or other wise might not know about.
If your offer caused the listing agent to put the listing into pending, then there might be reason to assume at least the listing agent thought there was a contract.
If you believed you had a contract because your agent told you so, then you might have all sorts of recourse, if there is no contract.
If you have an email from seller accepting your offer, and if that offer had provisions for inspections and mold (XI and XII ) and Standards "W" in the FAR/Bar 8- if your agent used. If there were issues on the inspection, then buyers agent has the duty to handle same in an mannar that protects your interest.
"3. Using Skill, care and diligence in the transaction"
Additionally, there are certain standard to which we are required to operate at or above.
Contract should state how your voiced concerns should have be handled - automatic 1.5% of contact price if not filled out. if on a FAR/BAR 8.
And if there is some favor in presentation, you have issues (NAR 1-6) then you may have other issues.
Sabe, while I do not have all the needed information, it appears you have good reason to
talk to an attorney. We agents, are not able to render good opinion about law, and for very good reasons.
That being said, we can, and should, advise people to seek out the advise of a qualified Real Estate attorney when it appears there are issues.
I do that now!
John
I disagree with Dana.. If in your emails you have a email where the seller accepts, then you may have a enforceable contract. Contact to sell requires offer and acceptance, meeting of the minds, and written is required because of the statue of Frauds, TO WHIT:
'A state law based on an old English statute that requires certain contracts affecting title to or possession of real estate such as contracts for the sale of real property and contracts not to be performed within one year to be in writing and signed before they can be brought before a court of law to be enforced."
Important part is "not to be performed within one year"
And you have other issues which is beyond my pay grade to address.
BUT, If I were you, I would find a REAL ESTATE attorney becaues I think you have some possible recourse, for sure.
No - not promising at all. We have actually been looking for months and we thought we were doing all the right things.
Our agent is not the listing agent. Swinging in the breeze?? That is an understatement!
It's my guess that another agent in his office is the 2nd contract on this property. We have been calling/emailing every single day for almost 4 weeks and never heard anything until today, when we sent an email basically demanding an answer on what was going on with the property since it has been so long.
Here are the deatils: we submitted a written offer on 01/21, which was accepted via email by the seller on 01/26 (through our agent). The seller then forwarded an inspection report from 08/08 which disclosed major roof & mold issues to us 01/29 - we had no idea. The inspection report recommended an entire roof replacement. Even though this is a big issue, we were still willing to move forward and close on 02/20 (per our initial offer). We asked if we could negotiate a lower price to accommodate a full roof replacement (our offer price was for a house that was in good condition/free of material defects), and never heard back. Instead, the seller had already hired a roofer to repair some of the roof tiles (not all), who never obtained a permit or a licensened engineer review even though the repair involved structural modifications. The roofer's scope of work also never addressed the mold at all. All of this was clearly against the inspection recommendation. This is the time we were told by our agent that the seller couldn't sign because "the contract would not be -bi-lateral" since we raised concerns about the roof/mold. Why couldn't the seller sign and deal with this during our inspection period? What would have been the harm of listing is as pending? We have very sufficient financial backing and provided it all to them, so we are at a total loss on why this happened. We feel shafted by our agent, who obviously never pushed the issue or had other motives. Any input would be MOST appreciated. Thanks.
Sabe, does not sound very promising! I am an agent in Martin County, if I can help just email or call me!
I have to agree with Dana....the contract is not legally binding when there is not a fully signed and executed agreement. Curious....is your agent also the listing agent for the property? I find it highly suspicious that they obviously did not offer you any education as to the purchasing process and have left you swinging in the breeze. Makes me think they had some other motive.
if you have a scheduled closing date,did you present a signed contract to yur title company? I'm a little confused as to how a closing was set up without this.
Is there any recourse with our agent? We've been left hanging even though we emailed every day requesting status updates. We were supposed to close this Friday and have been waiting all this time. The only reason we know about a 2nd offer is because WE asked.
Unfortunately,without a signed contract on both sides,you have no legal agreement and the seller is free to go with another offer.
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