Posts Tagged ‘blog’

mortgage agent training

Tuesday, August 17th, 2010

broker responsible for my short sale not going through, should i file a lawsuit against broker?

my friend referred me to a real estate agent and after six months my house was still not sold. the agent decided to put an offer on my house after i sold my car to pay for the mortgage since my husband was gone away to training, his income was reduced. in august my agent asked if she could use my property as an investment property by putting a tenant. i agreed since she was buying our house through short sale, however i have never seen the tenant’s application or credit report and found out later on that he had the worse credit.
in september 07, the agent backed away from the deal stating her broker wasnt honest with her regarding the short sale transaction. now, the bank tells us that they never received the agent offer that we signed but they received another offer 200,000 short of the offer we did sign with her. the bank also stated that the broker refuse the 5 % commission, now the tenant is suing us and the broker and agent are nowhere to be found. please help us save our home

I can only help you in CA.

Your tenant has no grounds to sue anyone, so do not worry about that one.

The broker can indeed refuse a commission cut other then your contract.

However, they were require to present the agents offer to the bank. It is not an offer without that.

Contact your states real estate board. Your claim needs to be against the BROKER. The agent really has very little legal liability.

Mortgage training for realtors @ 8854 Yonge Street., April 13, 2010 2.00 PM