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Real Estate purchase gone sour.

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K

ked

Guest
What is the name of your state? California

I have had problems with a real estate transaction due to the seller of a home not wanting to do the repairs. They agreed by signing a purchase agreement with a list of repairs and a estimate included from a contractor. The seller counter offered to have the roof on the house certified and would replace the garage roof only but was fine with the few other repairs I requested. Unable to certify the roof, the sellers agent promised both my agent and myself that the roof would in fact re replaced but would like to get other estimates besides the one we had provided due to the sellers new financial problems. The sellers agent advised me that the party providing the funds for the repairs had backed out, the house the seller was to purchase, (a contingency on the contract) never had a offer placed on it, and the seller needed to now buy a new vehicle. This was devulged while my agent was on vacation, I feel so that I couldn't address the contingency within the specified time as suggested in our contract. In order to stimulate and motivate the seller, their agent suggested that we continue to locate other contractors to due some work at the property. One wasn't interested, the other could not access the property repeatidly due to the owner's dog. I then inquired about the termite report which was over one month old by now and some serious work was necessary to the garage. Again I felt as though this report was kept purposely from me due to the importance of keeping a lease vehicle garaged and now 16' 2x4's are needing to be repaced along with the roof, window and alittle bit of missing siding that was replaced by the seller with some picket fencing material.

Didn't the seller have only 2 days to provide to me the termite report? And isn't there a clause about doing repairs in a professional manner and using like materials? Some of these repairs were done by the sellers. I never asked in writing; only verbaly . I feel insulted in the manner that the repairs were made. Yet, they act as though legally I could not address these issues since I didn't request those particular repairs in writing. Yet the seller carried out these repairs anyway. This to me sounds as though they actually awknowledged the verbal agreement even though they argue that nothing exists in writing.

After 8 weeks and escrow should be closing, the seller would not make any ammendments in writing. After I received the termite report, I faxed within 5 days a request to "Take Action And Repair". The "Financially disabled seller" had left for vacation. Two days later I faxed a letter to their real estate agent stating I wanted to recind my offer, only to find out she too was on vacation. An associate of the sellers agent did locate the seller, who elected not to work anything out by contacting me. So, the next business day I faxed escrow a cancelatiion letter due to "Lack Of Performance" by the seller. By the way, I had not yet signed escrow papers. The affliated escrow officer too was gone on vacation. It was 2 weeks later after I had faxed several letters and hand carried in documents, that I heard from the sellers broker, that he couldn't refund the earnest monies without a mutual agreement. To my dismay, the escrow office then drew up a cancelation notice addressed to me on behalf of the seller as liquidated damages to keep my deposit.

We now have a Small Claims date and have not waived to see a Pro-Tem. I am suing for my deposit back and damages, because on more that one occassion I had advised the sellers agent that I had a equity loan on my home to upgrade my current property. This was so that I could rent the property for income tax purposes. I could not shorten escrow, as requested by the sellers agent. I contracted work on my current house to be done in time for my renter to take timely possession. This was going to be a business venture for income tax purposes and with them not returning my deposit, there is monetary damage issues.

What do you think? Do I have to countersue for me to get my deposit back, or is it ok to have my own case filed for both the deposit to be reimbursed and for damages? And do you think that I have a fighting chance since I recinded with the real estate office then canceled later through the escrow office? The seller got wind 2 weeks after I canceled several times, the fact that one of two lenders couldn't finance me due to not selling my current home while apply for a new one. They have subpoena'd my financial application/paperwork thinking I am trying to get my deposit back based on "Credit Denial" and not "Lack of Performance". They have even questionded my "Good Faith" application" as not being a timely one. Please write soon, desperate, Thanks,
 


HomeGuru

Senior Member
ked said:
What is the name of your state? California

I have had problems with a real estate transaction due to the seller of a home not wanting to do the repairs. They agreed by signing a purchase agreement with a list of repairs and a estimate included from a contractor. The seller counter offered to have the roof on the house certified and would replace the garage roof only but was fine with the few other repairs I requested. Unable to certify the roof, the sellers agent promised both my agent and myself that the roof would in fact re replaced but would like to get other estimates besides the one we had provided due to the sellers new financial problems. The sellers agent advised me that the party providing the funds for the repairs had backed out, the house the seller was to purchase, (a contingency on the contract) never had a offer placed on it, and the seller needed to now buy a new vehicle. This was devulged while my agent was on vacation, I feel so that I couldn't address the contingency within the specified time as suggested in our contract. In order to stimulate and motivate the seller, their agent suggested that we continue to locate other contractors to due some work at the property. One wasn't interested, the other could not access the property repeatidly due to the owner's dog. I then inquired about the termite report which was over one month old by now and some serious work was necessary to the garage. Again I felt as though this report was kept purposely from me due to the importance of keeping a lease vehicle garaged and now 16' 2x4's are needing to be repaced along with the roof, window and alittle bit of missing siding that was replaced by the seller with some picket fencing material.

Didn't the seller have only 2 days to provide to me the termite report? And isn't there a clause about doing repairs in a professional manner and using like materials? Some of these repairs were done by the sellers. I never asked in writing; only verbaly . I feel insulted in the manner that the repairs were made. Yet, they act as though legally I could not address these issues since I didn't request those particular repairs in writing. Yet the seller carried out these repairs anyway. This to me sounds as though they actually awknowledged the verbal agreement even though they argue that nothing exists in writing.

After 8 weeks and escrow should be closing, the seller would not make any ammendments in writing. After I received the termite report, I faxed within 5 days a request to "Take Action And Repair". The "Financially disabled seller" had left for vacation. Two days later I faxed a letter to their real estate agent stating I wanted to recind my offer, only to find out she too was on vacation. An associate of the sellers agent did locate the seller, who elected not to work anything out by contacting me. So, the next business day I faxed escrow a cancelatiion letter due to "Lack Of Performance" by the seller. By the way, I had not yet signed escrow papers. The affliated escrow officer too was gone on vacation. It was 2 weeks later after I had faxed several letters and hand carried in documents, that I heard from the sellers broker, that he couldn't refund the earnest monies without a mutual agreement. To my dismay, the escrow office then drew up a cancelation notice addressed to me on behalf of the seller as liquidated damages to keep my deposit.

We now have a Small Claims date and have not waived to see a Pro-Tem. I am suing for my deposit back and damages, because on more that one occassion I had advised the sellers agent that I had a equity loan on my home to upgrade my current property. This was so that I could rent the property for income tax purposes. I could not shorten escrow, as requested by the sellers agent. I contracted work on my current house to be done in time for my renter to take timely possession. This was going to be a business venture for income tax purposes and with them not returning my deposit, there is monetary damage issues.

What do you think? Do I have to countersue for me to get my deposit back, or is it ok to have my own case filed for both the deposit to be reimbursed and for damages? And do you think that I have a fighting chance since I recinded with the real estate office then canceled later through the escrow office? The seller got wind 2 weeks after I canceled several times, the fact that one of two lenders couldn't finance me due to not selling my current home while apply for a new one. They have subpoena'd my financial application/paperwork thinking I am trying to get my deposit back based on "Credit Denial" and not "Lack of Performance". They have even questionded my "Good Faith" application" as not being a timely one. Please write soon, desperate, Thanks,


**A: I will respond when I have the time to read your long post.

It appears that in business more importantly, one uses the services of experts. If you did use a real estate agents and/or a real estate attorney, you should sue them.
Without a thorough review of all your documents, no one would be able to give you legal advice. Hire an attorney and remember that in real estate contract law, verbal agreements are not enforceable.
 
Last edited:

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