Re: This could lead me to drink - Posted by JPiper
Posted by JPiper on April 14, 2000 at 19:30:04:
Here?s how I see this:
In my state the Realtor would have violated at least these two sections of the license law:
- ?Placing a sign on or advertising any property offering it for sale or rent without the consent of the owner or his duly authorized agent.?
- ?Any other conduct which constitutes untrustworthy, improper or fraudulent business dealings, or demonstrates bad faith or gross incompetence.?
Either of these actions are grounds for suspension or revocation of a license in my state.
Any Realtor as a part of the business of listing a property has an obligation to verify ownership. To not do so in my mind would be ?gross incompetence?. Further, there may well be rules in the MLS that would cover listing a property which, in effect, cannot be sold under the terms in which it is listed.
In addition, any Realtor is charged with the responsibility of DISCLOSING material facts. Certainly one material fact is the ownership of the property. Realtors have no excuse just because they ?didn?t know?, when they have the obligation and ability ?to know?. Beyond this, one wonders whether the Realtor is now tortiously interfering with an existing contract, by entering into a new contract.
What would I hope to gain? I would hope to turn up the heat sufficiently with the Realtor that he would get the things done that need to be done to make my contract effective.
The fact that some of the owners of this property didn?t enter into the contract doesn?t just create a problem for the Realtor. The parties who DID enter into the contract now have a responsibility to perform?.except they can?t. Does this sound like a ?breach? to you?
And now, the Realtor is out selling this to someone else, when if we believe the original post, all that exists may be a life estate.
I don?t speak just theoretically about this. I had something similar happen one time. I entered into a contract with a seller represented by a Re/Max agent. The sellers were the heirs of a property?.six of them. They all signed the contract. A short while later, I sold the property to a second buyer. Now I get a call from a lawyer. He asks ?Are you the guy that?s wheeling and dealing with this property over on XXX street.? I say that I?m the guy with a contract?.yes. He informs me that his client?.the SEVENTH HEIR?.has not agreed to the sale of the property, did not sign the listing agreement, and that this whole thing looks like fraud to him.
It took me about 2 seconds to call that Re/Max agent with more threats than Carter has pills. See, I had spent some money on due diligence, and further, I had now entered into a contract with another buyer myself (fortunately mine was subject to receiving title). Nevertheless, I later put my threats in writing. When the date of closing arrived, the SEVENTH HEIR was there, with everyone prevailing on him to sign. He tried to hold me up for some additional money?.I refused. And I believe to this day out of fear, the Re/Max agent buckled, and threw his commission into the deal to buy off the SEVENTH HEIR.
Sometimes a little toughness, a little hard ball is just the ticket. Some people only respond to toughness. One thing for sure, if you?re always walking away, then your reputation will ultimately precede you. My attitude is that I am willing to adhere to my obligations under a contract. I expect others to adhere to there?s. And I don?t have a whole lot of room for Realtor incompetence.