What is the name of your state? KY
We signed a contract at Thanksgiving to purchase contingent upon the sale of a commercial property. When we received the contract, I took note of the date of closing for January 30, 2022; I thought it was extremely generous but didn’t think much of it - sometimes takes a while to sell commercial property in our area and I was given the impression that the seller was an older gentleman in possibly poor health, figured he wanted to avoid multiple extensions and was happy to have it under contract. People aren't in a huge rush here most often. Agent ordered survey (we told him not to and that we wanted the guy we usually use to do it) and said we would get a $1500 bill for our half. Apparently, the seller presigned the docs, the agent signed and didn't notice the date issue.
So here we are, the agent called and wants to "do us a favor" and let us out of the contract. Then, yesterday I got the release, stating that the seller wanted to keep our earnest deposit of $1,000 due to the property being off the market for three months. Husband said he expected a full release of our earnest monies. Realtor said we needed to pay at least $500, we said that we weren’t paying for his error, and that we basically have a contract we could sit on. Realtor accused us of taking advantage of the situation, that we knew it was a mistake, and said that he didn’t have $500, the trash man makes more than he does selling real estate, then began talking about the expense of lawyers. The phone call ended when the Realtor refused to stop repeatedly saying “Son of a b**ch” over and over and my husband informed him that he was hanging up. Realtor hasn’t returned calls today and has sent us to voicemail. Because this was at our office, we have my husband's side of that conversation from the security cameras.
I feel at the very least an ethics complaint is in order, however, there is no specific article, just the preamble saying "The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations." I can't find a specific article relating to this very strange situation.
I am going to send a letter stating the issues and copy the seller personally as well as our attorney, stating we want a refund and are not liable for the survey we didn't authorize. Other than that, what do you do here? I have never had such an awful experience, and this is just the abridged version. (I know, I know, next time get a buyer's agent. Got it.)
We signed a contract at Thanksgiving to purchase contingent upon the sale of a commercial property. When we received the contract, I took note of the date of closing for January 30, 2022; I thought it was extremely generous but didn’t think much of it - sometimes takes a while to sell commercial property in our area and I was given the impression that the seller was an older gentleman in possibly poor health, figured he wanted to avoid multiple extensions and was happy to have it under contract. People aren't in a huge rush here most often. Agent ordered survey (we told him not to and that we wanted the guy we usually use to do it) and said we would get a $1500 bill for our half. Apparently, the seller presigned the docs, the agent signed and didn't notice the date issue.
So here we are, the agent called and wants to "do us a favor" and let us out of the contract. Then, yesterday I got the release, stating that the seller wanted to keep our earnest deposit of $1,000 due to the property being off the market for three months. Husband said he expected a full release of our earnest monies. Realtor said we needed to pay at least $500, we said that we weren’t paying for his error, and that we basically have a contract we could sit on. Realtor accused us of taking advantage of the situation, that we knew it was a mistake, and said that he didn’t have $500, the trash man makes more than he does selling real estate, then began talking about the expense of lawyers. The phone call ended when the Realtor refused to stop repeatedly saying “Son of a b**ch” over and over and my husband informed him that he was hanging up. Realtor hasn’t returned calls today and has sent us to voicemail. Because this was at our office, we have my husband's side of that conversation from the security cameras.
I feel at the very least an ethics complaint is in order, however, there is no specific article, just the preamble saying "The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations." I can't find a specific article relating to this very strange situation.
I am going to send a letter stating the issues and copy the seller personally as well as our attorney, stating we want a refund and are not liable for the survey we didn't authorize. Other than that, what do you do here? I have never had such an awful experience, and this is just the abridged version. (I know, I know, next time get a buyer's agent. Got it.)