Real Estate Agent --- Lied
I had a multi-family house which I had put on the market. The listing had expired and the sign was still posted in the lawn. Two young men wanted to see the house and because I lived there I was relucent to let them in until one of them offered me his business card w/picture proving he was a real estate agent. They made an offer with conditions that $2,200 repairs, all units to be vacated, and occupance in 30 days of exceptance. I hired people to help with the moving, repairs, storage and other measures to vacate in the agreed contract time. I allowed him to post signs for renters meet all the requirements. I futher committed to contractors on an out of state property which I own. Moving in good faith that all was being done as agreed upon. The realtor/buyer said "repeatedly there is no problems with financing" to my agent. Closing was set 4 different times and then he said he was withdrawing his offer.
I had to make all the mortgage payments, utilities, insurance, pay for all repairs, sell much of my belongings, 2 rent storage units, cash in my IRA, empty my savings---and finally I sold the property at auction taking yet another loss--$50,000. The finance officer was also involved because he was going to move into one of the 3 rental units as an on site manager. He told my agent the financing was in order and that he had already packed his apartment and was ready to move when the realtor/buyer declined. He said other things to my agent that lead us to beleive the financing was approved. What legal stand do I have---what can be done as far as his insurance---what about the company he represents--are they liable---would medation be a viable means of settling this dispute---are there laws that address this issue:-?
Quote:
On 2003-07-06 14:21, sabastain wrote:
I had a multi-family house which I had put on the market. The listing had expired and the sign was still posted in the lawn. Two young men wanted to see the house and because I lived there I was relucent to let them in until one of them offered me his business card w/picture proving he was a real estate agent. They made an offer with conditions that $2,200 repairs, all units to be vacated, and occupance in 30 days of exceptance. I hired people to help with the moving, repairs, storage and other measures to vacate in the agreed contract time. I allowed him to post signs for renters meet all the requirements. I futher committed to contractors on an out of state property which I own. Moving in good faith that all was being done as agreed upon. The realtor/buyer said "repeatedly there is no problems with financing" to my agent. Closing was set 4 different times and then he said he was withdrawing his offer.
I had to make all the mortgage payments, utilities, insurance, pay for all repairs, sell much of my belongings, 2 rent storage units, cash in my IRA, empty my savings---and finally I sold the property at auction taking yet another loss--$50,000. The finance officer was also involved because he was going to move into one of the 3 rental units as an on site manager. He told my agent the financing was in order and that he had already packed his apartment and was ready to move when the realtor/buyer declined. He said other things to my agent that lead us to beleive the financing was approved. What legal stand do I have---what can be done as far as his insurance---what about the company he represents--are they liable---would medation be a viable means of settling this dispute---are there laws that address this issue:-?