Contract for bare land

I an paying on a contract for bare land in the state of Nevada. The company that holds the note also sold me the property. I did not know that the sales agent was representing both sides. Now I find out that the agent who sold me the land was not licensed to sell real estate in the state of Nevada. Is the contract voidable? Can I refuse to pay anymore? I have paid over $5,000.00 so far.

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Bill Maher:
I an paying on a contract for bare land in the state of Nevada. The company that holds the note also sold me the property. I did not know that the sales agent was representing both sides. Now I find out that the agent who sold me the land was not licensed to sell real estate in the state of Nevada. Is the contract voidable? Can I refuse to pay anymore? I have paid over $5,000.00 so far.<HR></BLOCKQUOTE>

No, the contract is still intact and enforceable because there was a meeting of the minds and the purchase agreement was between the Seller and you the Buyer, not the real estate agent. The agent was not a contractual party to the purchase agreement. You have claims against the Seller for using an unlicensed real estate agent and claims against the agent for not having a real estate license. If you are positve that the agent represented you, you may have a dual agency claim. Keep in mind that in these types of vacant land sale transactions, the landowner typically has numerous lots for sale and hires many sales agents. In most cases the agents are considered lisitng agents, therefore their client is really the landowner. If the agent helped you fill in the preprinted purchase contract, the client remains the landowner and you the Buyer are just the customer of the agent. In this scenario, the agent does not legally represent you because he/she represents only the landowner. You in essence represent yourself and have no agent. The agents are required to work under a principal broker of a real estate company, unless they act in the capacity of their own sole proprietor broker/company owner. Was the real estate company a licensed broker in the State of Nevada? Was the agent an employee of the landowner? Is the landowner and real estate company the same entity? If there were real estate licensing law and landowner subdivision law violations, the landowner may settle with you. Landowner agrees to buy the lot back and you agree not to file claims with respective regulatory agencies.

If you keep the land, I sure hope that their are utilities either at the project site or within close proximity, and roads are built. Even if in the desert, the land would be worthless if you needed to spend additional monies to bring in water, sewer, gas, electric, cable, telephone etc. to the lot and pay for road paving in order to get trash pickup and USPS mail service and emergency vehicle access. Don't forget street light and curb, gutter and sidewalk maintenenace. Did you see the land prior to purchase?