[frayedends]

Originally Posted by MsPCGenius

Contact Seniors vs Crime for guidance....
352 755 3186

They also have an office presence in Brownwood Paddock Square, if you want to stop by and talk face-to-face with a volunteer.

This doesn’t sound like crime. It sounds like the buyer entered a transaction without any representation and didn’t understand the contract she signed. It sounds as if the contract allows the seller time to fix any issues found in the inspection. The seller should have to show sufficient proof of such repair (this can be tricky and debatable).

If they are asking for an extension there is the possibility they can’t get repairs done in time. Don’t sign an extension and on the day it expires request they sign a release.

[retiredguy123]

Originally Posted by frayedends

This doesn’t sound like crime. It sounds like the buyer entered a transaction without any representation and didn’t understand the contract she signed. It sounds as if the contract allows the seller time to fix any issues found in the inspection. The seller should have to show sufficient proof of such repair (this can be tricky and debatable).

If they are asking for an extension there is the possibility they can’t get repairs done in time. Don’t sign an extension and on the day it expires request they sign a release.

It could be a crime if it rises to the level of elder abuse. A licensed real estate agent has a fiduciary duty to treat both parties in a fair manner regardless of who they represent. It is not correct to tell a buyer that they will lose their deposit when the agent does not know that to be true.

[frayedends]

Originally Posted by retiredguy123

It could be a crime if it rises to the level of elder abuse. A licensed real estate agent has a fiduciary duty to treat both parties is a fair manner regardless of who they represent. It is not correct to tell a buyer that they will lose their deposit when the agent does not know that to be true.

I don’t disagree but if the contract states the seller has time to fix the issue then isn’t the agent being fiduciarily responsible by explaining that the buyers deposit is at risk? We are missing some details so it’s hard to know.

Did the buyer agree to let the seller fix the issue and now wants to back out. The extension thing is very confusing.

[Blueblaze]

I bet you'll need more than a $10,000 lawyer to get out of it. That's basically what they told me when my seller stole the best chair in my new furnished villa the morning before the closing -- even though it was on the inventory and I had a picture of their realtor sitting in it the day I bought the place. Then they had a million reasons to keep me at the closing, while the sellers had enough time to beat me to the house and use their illegally-retained key to steal an end table and TV from the master bedroom. When I arrived, I found them in my new living room disconnecting the big TV, and I could see the other TV and end table in the back of their SUV. I called 911, reached the Sumter County Sheriff, who told me to take it up with my closing agent.

My guess is, you just bought yourself a house with water damage.

[Normal]

If there was a disclosure, was the damage mentioned? I’m thinking you can get your deposit back

[sallyg]

Originally Posted by Heartnsoul

Asked. He said no we can't get refund

Call a lawyer asap! Sounds unethical to me.

[retiredguy123]

Originally Posted by frayedends

I don’t disagree but if the contract states the seller has time to fix the issue then isn’t the agent being fiduciarily responsible by explaining that the buyers deposit is at risk? We are missing some details so it’s hard to know.

Did the buyer agree to let the seller fix the issue and now wants to back out. The extension thing is very confusing.

I agree, but the way the OP said it was that the agent made a definitive statement that they could not get a refund. That is not correct because the agent cannot decide on the refund. It sounds like the agent may have been bullying the OP into going through with a sale that they didn't want. I'm not an expert on elder abuse, but it could be considered a crime, especially since the agent knows that the OP does not have their own agent to explain their options.

[wereback]

Sorry to tell you but your agent was trying to help when you receive the results of the inspection report you have X number of days to sign. If you don't you have bought a house{ any where from 14 to max 30 days }

[Salty Dog]

She said the agent had showed them another property they would be interested in, if they could get out of this one. Seems the agent and broker would both still make a commision, so why play hardball with this sale?

[margaretmattson]

Originally Posted by Blueblaze

I bet you'll need more than a $10,000 lawyer to get out of it. That's basically what they told me when my seller stole the best chair in my new furnished villa the morning before the closing -- even though it was on the inventory and I had a picture of their realtor sitting in it the day I bought the place. Then they had a million reasons to keep me at the closing, while the sellers had enough time to beat me to the house and use their illegally-retained key to steal an end table and TV from the master bedroom. When I arrived, I found them in my new living room disconnecting the big TV, and I could see the other TV and end table in the back of their SUV. I called 911, reached the Sumter County Sheriff, who told me to take it up with my closing agent.

My guess is, you just bought yourself a house with water damage.

You should do a walk through at time of closing and take pictures. If items were taken out of the home report it to the title company. House will not close until items are returned.

[margaretmattson]

Originally Posted by Heartnsoul

REAL ESTATE AGENT TELLS ME I Will LOSE MY MONEY. I BELIEVE THEY HAVE TILL FRIDAY TO FIX, REPAIR BUT HOW DO I REALLY KNOW THAT WILL BE DONE??

Ask for a receipt for the repairs. When you move in, If you have further issues you can call the company who did the repairs. Also demand the home inspector return to the home before you close. Your contract stipulates a clear home inspection. You do not have to close until this occurs. Your money is sitting in escrow. The seller cannot get the funds until EVERYTHING in the contract has been completed. Play hard ball back!

[Bob04090]

Originally Posted by Heartnsoul

He said we won't get our money back

Is this a VLS contract? If so, as I stated earlier, the seller has to fix the problem up to 1.5% of the purchase price. No, you won't get your earnest money back if you back out. The VLS contract is written in a way that you can't.

[jimbomaybe]

Originally Posted by retiredguy123

Most buyers do not have an agent representing them. The agent asking the OP to extend the inspection clause is almost certainly representing the seller, not the buyer.

I think that is THE point, "don't worry about a thing, just sign here"

[frayedends]

Originally Posted by retiredguy123

I agree, but the way the OP said it was that the agent made a definitive statement that they could not get a refund. That is not correct because the agent cannot decide on the refund. It sounds like the agent may have been bullying the OP into going through with a sale that they didn't want. I'm not an expert on elder abuse, but it could be considered a crime, especially since the agent knows that the OP does not have their own agent to explain their options.

Yeah this whole thing is weird. Wish the op would provide more details.

[kkingston57]

Originally Posted by Heartnsoul

My husband and I put $10,000 down on a villa. The inspector found water damage which we want no part of. The RE agent tells us not to worry. We are. He sent me a addendum to contract to sign to add an additional 10 days to extend
The inspection period. If we don't sign, can we get our $10,000 back to move on and purchase another villa?

Not a good forum for a LEGAL ?. Other people may have had other situations, but you are dealing with a contract and the fine print will determine what you can do or not do.