Home Selling in Bristow>Question Details

2thebeach, Both Buyer and Seller in Bristow, OK

Realtors negligence??

Asked by 2thebeach, Bristow, OK Sat Feb 12, 2011

I listed my land for sale with my realtor on 11/2010. Land has small house but value is in the land. We were under contract six days after listing with a builder. Builder decided not to have a buyers agent. Closing date was apprx 60 days later. Two weeks prior to closing I called my realtor to make sure closing on track. She didn't call me back so next day I called her. Come to find out the buyers financing fell through. Fianancing was not a contingency on contract. Okay. Disappointed but decided to put back on market and thought we would be able to keep the $5,000 earnest money. Come to find out our realtor did not give the seller the sellers disclosure form. I pulled out all my paperwork and I did in fact sign the disclosure but realtor did not give to buyer. And now I do not get to keep the earnest money because of this error. My house was off market for 60 days and I lost the new house. Is my realtor negligent?

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Did you use a state of Oklahoma Uniform Contract? If so, the buyer most likely would get his earnest money back anyways, due to the fact that the financing fell through. Are you certain that financing wasn't an issue within the contract? Was the Realtor working as a Single Party Broker for you or a Transaction Broker? You say that the seller hired an attorney, was this before or after the contract was signed or only after they wanted out of the contract?
1 vote Thank Flag Link Sat Feb 12, 2011
I did not sign the release. Buyer hired an attorney and attorney stated that we were were the ones in breach of contract because we did not provide disclosure form to buyer. My agent admitted this was an oversight on her part because she thought because it was a land sale she didn't have to give to buyer. I'm just wondering why I even signed the darn thing if she did nothing with it. Great advise I will contact brokers agent.
1 vote Thank Flag Link Sat Feb 12, 2011
Based on what you have told us, I would offer to sell the lot to the agent's Broker @ the contract price.

0 votes Thank Flag Link Sat Feb 12, 2011
Based on your story, sure. Keep us posted, will ya?
0 votes Thank Flag Link Sat Feb 12, 2011
Consider contacting your agent's broker owner and or office manager and express all your concerns...since none of us are directly involved in the transaction, not sure an accurate answer can be given, do you have proof that the disclosure form was not provided to your potential buyer...again, discuss with the broker owner and or office manager first, and then go from there....
0 votes Thank Flag Link Sat Feb 12, 2011
Why did it not go to mediation first?
Flag Tue May 6, 2014
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