What can we do if we feel that our real estate agent treated us wrong?
Answer:
There are several issues here. Number one is fiduciary duty meaning her number one responsibilty is to you and legally you must know everything she knows. You need to find out what real estate board she belongs to and report her.They will investigate and pull her contract. What she did is called double contracting and its a lie and holds seriouse responsibility. She could ultimately be sued by the bank or the bank file a greivance against her after forclosing the house. Also the agent in her office she was working with also knew better and should have their license revoked as well. Go get'em tiger!
Call the Better Business Bureau
Hope this helps!
I would definitely look into legal action.although, it sounds similar to what we went through last year. We had a contract on our house, and a $50K deposit check. What we didn't have was an exact closing date, it was depending on financing (they also wanted to finance 100%). Turns out the guy we were dealing with was a real scam artist. The "deposit" check bounced, and the deal fell through. We were left with nothing except for having lost 6 months of prime house-selling time.
how did your house go into foreclose? i cant read where the agent did any thing illeagal.
Boy if what you are feeling is deceit and not indigestion chances are that you are correct. However since we all know that there are two sides to every story I'll reserve my opinion on your statements. I will however tell you that if you feel that you have been wronged by a licensee in your state your state's real estate commission has a form on line, in most cases, that you can complete and submit, they will determine if it merits investigations and if it does, they will proceed to investigate the allegations. The results of such investigations can be a dismissal of the charges or much more serious. I also recommend that if you have been damaged monetarily, that you should contact an attorney at your soonest possible time. If you need the links to your real estate commission contact us and we will be more than happy to send it to you from our contact us research library.
Sounds like she knows the buyer, and is trying to get them into your house for some reason.
Definately contact the BBB, and possibly even your state's real estate licencing agency.
Forget about the BBB and forget about attorneys. BBB does not do anything and attorneys cost money. Chances if you win it will be forever to collect. By the mean time you have nothing but aggravations.
Your agent may be guilty of negligence, misrepresentation and violated his or her fiduciary responsibility to you if he or she did not explain the details of the contract to you That is unless you did not paid attention. So start taking some notes on what happened.
First, a contract offered to you with out a good faith binder is not a valid offer. Your agent needed to tell you that. Now if the office came with a few bucks initially but no additional deposit, that would be an enforceable contract. You need to look at that contract.
Secondly, while it is not illegal to enter into contract and inflating the purchase price, it is bank fraud if it is used to secure a higher bank loan. If they jack the price up by $200,000, chances are the bank appraisal would never make it or you sold your house too cheap. In either case, your agent is obligated to tell you so. If he or she encouraged you to go along with the, contract, that person is a party to defraud the bank and so are you.
Open houses don't sell property. They are there to placate the seller. It is the networking among the realtors that moves inventory.
Your have to now look at three things.
1. To hold off the foreclosure. That you may need an attorney.
2. Sell your house. Find the best realtor and get it done. Aviod discount agents and aviod small operators.They cut commissions because they cannot compete except being cheap.
3. If after reviewing that facts and you still feel you are wronged, file a complain with your local Board of Realtors and your State Real Estate Commission. The Board deals with the conduct of their members. The Real Estate Commission is there to protect the general public. If the commission finds that your agent is guilty of misconduct, then you may consider suing that company for damage. However, first thing first, devote all your energy to the most pressing issue.the foreclosure.
You don't have to have a down payment-- but generally 'earnest money' of 1,000 or more is used as a 'good faith' type thing.
You generally CAN do the repair thing, but if it was shady, then you can launch a complaint against her license and they will investigate. If it was in writing than this shouldn't be hard to prove, if you are correct.
getting full financing isn't unusual either, and deals fall through all the time. She should have gotten earnest money sothat you could keep it and cover your next mortgage payment with it since the buyer defaulted on the agreement.
An attorney would be a costly option at this point. Unaware of where you are from, I think that it would be helpful for you to contact the Department of Realt Estate in your state and speak with one of their representatives. You will need to be armed with specifics of the case and the agents liscence number which is public information.
After that, an attorney would be the next best person. Be careful for who you choose and depending on the amount that you have been damaged, you could always file in small claims court.
Call your agent's broker!! The board of realtors would penalize the broker as well as the agent.No broker would condone such a risky illegal act unless he/she was as corrupt as your agent!
Send a letter to both the broker and the National Board of Realtors today!
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