Can A Sales Agent Do This
Hi, I was wondering if a real estate agent can do this. He took a deposit for $1000 and we made an offer on the pink slip for the house price. The owner accepted our offer. The sales agent wanted to do our loan even before he sent the papers to the lawyer(one of his conditions sort of if we wanted the house) we said we would do our own loans. The sale agent said he would send the contract to the lawyer which he didn't but kept saying it for over a month and 1 week that he has already sent it. After which he didn't tell us anything but in that time frame while he had the deposit he looked for someone else who would do the loan with him and gave them the property without telling us. can he do that, make me wait for over a month and without saying anything, but owner has accepted offer and he sent the contract to the lawyers when he didn't really send them it.
Thanks any input would be of great help.
No an atty so wont pretend to be.
Usually you could have just taken your copy of the contract to an atty.
Best thing to do is move on and learn a lesson.
No use wasting your time trying to get revenge on the agent. Believe me I have wasted ALOT of time doing it and never made a penny of it.
I don't know what state you are in or the laws of your state. Where I live real estate agents don't do loans. Anyway, every county has a local Board Of Realtors. If you really want to you could make a complaint to either the local or the state board. Agents are accountable and held to ethical standards of practice.
Please clarify - do you have a signed acceptance from the seller, in writing? If so, you and he have a deal. If he sells to someone else for more than your price, take him to court - the profit belongs to you.
Hi thanks everyone for replying, I live in NYC, It was verbal with a pink slip offer that I signed and have him a check for $1000 deposit which he asked for (also a credit check to see if I qualified my score was 752), I have it on tape where he says that the owner has accepted the offer (at $500,000 which was the asking price), I'm thinking about going to the local board of Realtors and filing a complaint, if that's all I can do. He did sell it to another guy for $550,000 (he found him after the owner accepted our offer because we didn't let him do the loan). This person let him do the loan I talked to the guy. The sales agent was doing the loan the whole time that he kept saying the contract is already at the lawyer etc.(for 5 weeks he said that) he never informed us anything about it but the whole time saying he sent the paperwork to the lawyer and its in the process, he also lied on many occasions. He never even told us there is or was an offer for 550,000, so we could outbid the other person, he said it was already accepted (wasn't he supposed to based on the equal housing Opportunity act or something like that). [ Edited by plokman on Date 11/30/2003 ]
Quote:
On 2003-11-30 16:44, plokman wrote:
Hi thanks everyone for replying, I live in NYC, It was verbal with a pink slip offer that I signed and have him a check for $1000 deposit which he asked for (also a credit check to see if I qualified my score was 752), I have it on tape where he says that the owner has accepted the offer (at $500,000 which was the asking price), I'm thinking about going to the local board of Realtors and filing a complaint, if that's all I can do. He did sell it to another guy for $550,000 (he found him after the owner accepted our offer because we didn't let him do the loan). This person let him do the loan I talked to the guy. The sales agent was doing the loan the whole time that he kept saying the contract is already at the lawyer etc.(for 5 weeks he said that) he never informed us anything about it but the whole time saying he sent the paperwork to the lawyer and its in the process, he also lied on many occasions. He never even told us there is or was an offer for 550,000, so we could outbid the other person, he said it was already accepted (wasn't he supposed to based on the equal housing Opportunity act or something like that).
[ Edited by plokman on Date 11/30/2003 ]
You said "It was verbal with a pink slip offer " What is a pink slip offer?
If it was ONLY verbal than IMO no you did not have an enforcable real estate contract.
Did you go to an atty. If yes, which you REALLY should do, what does your atty say about this?[ Edited by MrMike on Date 11/30/2003 ]