This homeowner after accepting my offer and my $1,000 earnest deposit in the title company, has for the 2nd time tried to back out of selling us the property, and now listed the property with a realtor! While we still have a memorandum filed in the courthouse due to the first time, and we have not singed a release form of any sort. We've helped clear out the bad tenants that didn't pay him rent because he was too coward to ask them to leave, we bought him food, he was scared for his life and even asked if I would stay over, gave me a set of keys. Sure enough his daughter who wasn't there to help him with his mortgage, bad tenants, backed up taxes, now convinces him he can get more for the property as is. We are currently having a lawyer draft a letter and make calls to the homeowner. Question? can the realtor get in trouble for trying to sell a house that is still under contract, when the homeowner is about to get sued for specific performance. Any other sage advice from you real estate gurus?
Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
5y
The Realtor is not at fault. Drafting letters and attorney calling is too slow of a process. Did you follow the time lines in your state for specific performance and notified him properly? You need to file as markets are hot and he will have that property sold in 20 days, then you try and recover from him. The courts will look at how much you have to lose and $1000 is tiny, maybe not worth paying a lawyer. What does your contract say? Arbitration? Get a time-line and receipts of your costs together on paper to file. Did you close on time according to your RPA? Can you close today?
Thanks Caroline, all arbitration was stated on the assignable agreement, he has once backed out by giving my number to his drug dealing, using room mates to call me text me, harass the title company we were originally with. Our lawyer sent them a certified letter stating we will sue for specific performance, especially after they have changed the locks denying us entrance to the property, we have sent a copy of the memorandum in place with the court house, as well as another copy of the contract highlighting where he signed and initialed were the prevailing party will/can be compensated for legal expenses and we need access to the property, which was listed with a realtor while STILL in contract and is now showing pending a sale. My mentor says that once it goes to title, they will have to contact me for a release, which given the circumstances and all the efforts invested, time and manpower, we will refuse to signe a release. His daughter was the brain child to start this mess.