"backing-out" @ the last minute

[mlholmes]

Signed contract to purchase house on 6-15-00 with dual agent and closing date on 7-20-00. Closing date was then moved to 7-28-00. On 7-27-00, notified that closing was rescheduled for 7-31-00. Originally planned to move into new home on 7-28-00, dual agent agreed, on 7-27-00, for the move to occur without closing being completed. On 7-28-00 in the afternoon, a partner with the agent informed us that the move could not happen until the closing was completed. Meanwhile, our lease on the property we were renting ended on 7-31-00. After leaving numerous phone messages with the dual agent and no response, we had no other choice but to rent an apartment and become locked into a 6 month lease. On 7-31-00, dual agent contacted us after we had signed apartment agreement and informed us we could have moved that day. She also informed us, the same day, that the mortgage company and the partner were well informed that the move could take place on 7-31-00, however we were not informed. After these occurances, we informed the dual agent we were no longer interested in buying the house. Lastly, went by the house that was to be bought, the sold sign had been removed, and was back on the market. Are we entitled to receive our earnest money back? Also, can the dual agent be held responsible for the cost we incured from moving?

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[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by mlholmes:
Signed contract to purchase house on 6-15-00 with dual agent and closing date on 7-20-00. Closing date was then moved to 7-28-00. On 7-27-00, notified that closing was rescheduled for 7-31-00. Originally planned to move into new home on 7-28-00, dual agent agreed, on 7-27-00, for the move to occur without closing being completed. On 7-28-00 in the afternoon, a partner with the agent informed us that the move could not happen until the closing was completed. Meanwhile, our lease on the property we were renting ended on 7-31-00. After leaving numerous phone messages with the dual agent and no response, we had no other choice but to rent an apartment and become locked into a 6 month lease. On 7-31-00, dual agent contacted us after we had signed apartment agreement and informed us we could have moved that day. She also informed us, the same day, that the mortgage company and the partner were well informed that the move could take place on 7-31-00, however we were not informed. After these occurances, we informed the dual agent we were no longer interested in buying the house. Lastly, went by the house that was to be bought, the sold sign had been removed, and was back on the market. Are we entitled to receive our earnest money back? Also, can the dual agent be held responsible for the cost we incured from moving?

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You may not be entitled to the return of your deposit for reneging on the deal. contact a real estate attorney to review all contract documents including the dual agency agreement. In the meantime send a certified letter to the agent asking for the return of your deposit. The agent is liable for some damages for irresponsible actions and breach of standard and duty of care.