Home Buying in Torrance>Question Details

South Bay Ho…, Home Buyer in Torrance, CA

Trying to buy a house, but can't seem to get passed the agents.

Asked by South Bay Home Buyer, Torrance, CA Tue Oct 29, 2013

I’m currently in escrow to purchase a home. It’s a standard sale, and all of our contingencies are now gone. My agent has advised that the seller is requiring an additional 60 days for escrow. Us (buyers) being 1st time homebuyers weren’t really aware of our rights, and agreed to the 60 extra days (despite the fact that has now left us couch surfing with all of our belongings in storage). Our agent has told us that the seller may decide to cancel the listing altogether because they aren’t getting along with the listing agent. (Why I know this much, who knows). I guess we’re now waiting to see if they accept?!?

We’ve come to the realization that it’s likely that our agent will not be stepping up to bat for us, and we’re basically screwed out of the appraisal, wire, home-inspection costs. We also feel like contracts don’t mean anything since there doesn’t seem to be any consequences for this seller if they decide to breach. Our agent has advised that his/her broker told said that nob

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Answers

5
I'm sorry to hear you are having such trouble. An additional 60 days is a long time, so normally an owner will pay a rental fee for the days remaining in the home. This would have helped you with the storage costs, etc.
Talking to the Broker in Charge (of the office your agent works in) should go a long way toward solving your problems! I would do this today and see where you are after that.
If you feel this is getting into a legal issue, it would be worth a brief consultation with a local Real Estate Attorney to discuss your options. You have signed a contract, and there are remedies and penalties for breach of contract, just as you would have been bound by the terms of the contract. It's best to know your rights, so you know where you stand.
1 vote Thank Flag Link Thu Oct 31, 2013
All of the answers here are correct and give good advise. You need to speak directly with the Broker of the Office your Agent is working for. The seller cannot back out of the contract. You should also let your agent, his broker, the seller, and the listing agent know you are considering a consultation with a real estate attorney regarding this situation.

If this is "the home" for you and you have come so far, then you need to take a firm stance to make sure the other parties to the transaction understand your position. If your agent has not done so and you are nearing the end of the 60 day extension ask your agent to send the seller a "Notice to Seller to Perform". There is no real reason for a 60 day extension unless the seller is waiting for their new purchase to close and it is having problems.

Your agent should be doing much more for you than it sounds like he/she is. Go into the office of your agent and ask to speak with his/her broker.

Respectfully,
C. Lee Miller - Broker Associate
CA BRE Lic# 01882648
Keller Williams LA Harbor
1 vote Thank Flag Link Tue Oct 29, 2013
I agree with Bruce and Lara. You need to talk directly to the broker in charge. The sellers can not back up of a legally binding contract without suffering consequences.

Why did you agree to a 60 day extension? It was your agent's responsibility to make sure you were making an informed decision. Maybe your agent and broker will have some suggestions on how to fix this situation and assist with some unplanned storage costs.
0 votes Thank Flag Link Tue Oct 29, 2013
You seem to be getting bad information. The first thing to do is contact your agent's broker and see if they can set everything straight with the Seller's side. You most likely signed an arbitration clause in your original contract. The Seller does not have a back out right. Ultimately you might end up in court to "perfect the contract". You could also begin an eviction process once the allowed time frame of occupancy expires. Any damage done during this extended time would land everyone in small claims court depending on how much it becomes. Hopefully once the Broker gets involved cooler heads will prevail.

Good luck.
0 votes Thank Flag Link Tue Oct 29, 2013
Have you tried talking to your broker directly since the agent is not being responsive? Also, did you agree to arbitration? Lastly, have you thought about speaking with a real estate attorney?
0 votes Thank Flag Link Tue Oct 29, 2013
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