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Real Estate News and Advice |
December 2, 2009 |
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Ask George: Questions From Consumers
by George C. Stephens
Dear George: "I paid $600 as a deposit when I leased a condo. Due to unforeseen circumstances, I had to move out of the country. I also had to vacate my condo before the lease expired. I continued to pay rent until the unit was leased to a different party. Can I get my deposit back? The broker who handled the lease said that I couldn't. -- Traveler Dear Traveler: Look at your copy of the lease agreement, it details the provisions regarding the disposition of a security deposit. For specifics, please speak with an attorney or legal clinic. Dear George: "We sold our home ourselves. The day before closing, an attorney contacted our buyer to get some information. Our buyer told the attorney he had canceled the contract. The attorney called a good friend of ours who is a real estate agent. She notified us as to what was going on. We had already moved out to lease an apartment. Now we have to move back into our home. Can we file a lawsuit against the buyer based upon the fact the buyer did not properly notify us about the cancellation? -- Victimized Dear Victimized: Why in the world didn't you use your "good friend," who is a licensed real estate professional? You must contact an attorney (despite your apparent aversion to licensed professionals) if you want legal advice. Dear George: "A few months ago my husband and I decided to start looking for what will be our first home. We immediately found ourselves a highly recommended real estate agent. She has more than eighteen years experience. At first she seemed very professional. We spent about 5 days looking at homes with her over a period of a month. However, we began to feel like a thorn in her side. We found that she was not very helpful when it came to providing information about the areas we were considering. We are now in contract with a builder. Our closing is scheduled for the end of August. We have tried desperately to make the best of a bad situation with our agent. Despite our efforts, dealing with her has become a nightmare. We still wish to be represented by an agent. She, however, is not helping us. In fact, we believe her behavior is hurting us. I do not want a confrontation with this agent. Nor do I want to go to the closing on our own. What can we do to extract ourselves from her Buyer Representation Agreement? -- Hapless in Houston Dear Hapless: Communicate with your agent's broker. Let the broker know exactly what has happened. The broker has the ability to assign someone else to work with you. Your agreement is with the brokerage firm, not the agent. If the "agent" herself is the broker of her firm, then I do not believe you can avoid a confrontation. You might want to contact the Better Business Bureau and also consider mediators and arbitrators. Dear George: "We terminated a sales contract for a purchase of a house because the seller refused to make a reasonable repair we requested. 'Reasonable repairs' was part of our purchase agreement. It has been two weeks since we signed papers to have the earnest money refunded to us. The title company states it is waiting for one of the two sellers to sign the paper. We believe someone is purposely 'dragging his or her feet.' How long should we wait? -- Buyer Dear Buyer: Your particular purchase agreement gives the title company 30 days from the date the "other party" is notified that you have demanded a return of earnest money. If the other party fails to respond within the 30 days, the title company can refund your earnest money. However, if the other party responds by disagreeing with your demand, then you may need to mediate (see above question) or consult an attorney. Dear George: "How does one file an 'official' complaint against a Realtor? To whom should the complaint be addressed? -- Complainant Dear Complainant: Contact your local Realtor Association. Ask to speak with the person in charge of Professional Standards. When you are connected, tell that person you wish to file a complaint. The Professional Standards person will provide you with everything you need to file the complaint. Dear George: "I have a listing agreement. I am not happy with the performance of the agent. The agent does not return my phone calls, among other deficiencies I could cite. I would like to list with someone else. I understand that I can give notice in writing to revoke the present listing agreement. Can I then list with someone else or do I need to wait until the revoked listing expires? -- Seller Dear Seller: Some listing agreements contain a provision that, while it does enable you to revoke the listing, still holds you in default. Such a provision usually creates a liability to the seller in the amount of the stated fee based upon "Asking Price." Communicate with the broker of the listing firm. Let the broker know how unhappy you are. If the listing contains a mediation clause, pursue that avenue. If you cannot arrive at a satisfactory agreement in writing with the broker, hire an attorney. Do not revoke your listing agreement unless you seek legal counsel first. For more articles by George Stephens, please press here. George Stephens welcomes your questions by e-mail. Because of the volume of mail received, questions cannot be answered individually. Mr. Stephens is not a lawyer and this column does not contain legal advice. If you wish to obtain legal advice, please consult with an attorney or legal clinic. Published: September 28, 2001 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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