Comments on: in a realestate mess please help?

By: menasha_rabinowitz

menasha_rabinowitz — Tue, 24 Nov 2009 20:23:59 +0000

Get an independant attorney to sort this out. Listen to Gary: Never, ever do business with friends and/or relatives.
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By: CHICLA C

CHICLA C — Tue, 24 Nov 2009 19:43:59 +0000

Phoenix (what an Idi*t) you should read (no buyers agency) is part of contract anyhow i understand they do not give you enough characters to work w/ so here goes: An agent is "responsible" to their clients. They have a duty, called a "fiduciary duty." This means the agent is responsible to act in the best interests of their client. A car salesman does not have to act in your best interests — they just have to sell the car. It isn’t that simple for real estate agents.The Buyer Agent owes fiduciary duties to the Buyer under this relationship and agreement, including fidelity, honesty, dedication to purpose, acting in the Buyer’s best interests, etc. when is it in the clients best interest to have the contigencies removed when a loan is not in place. He removed contigencies knowing you did not have a loan call an real estate attorney. I would call the broker tell him you want 7k of his commission credited to you or you will see them in court when he told you his dad can give you the money that you were going to have to fork up he made himself responsible by advising you to go forward
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i got some of it from online and research : )

By: Gerald

Gerald — Tue, 24 Nov 2009 18:53:59 +0000

Boy are you getting the run around…
Never do business with friends or relatives…
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By: kckid2

kckid2 — Tue, 24 Nov 2009 18:40:59 +0000

I’m not sure I at all understand the facts as you explain them.

It is normal practice that the purchase of real estate is contingent on an acceptable loan. If the buyer doesn’t get that, then the buyer gets to undo the deal and get all the money back. Or else, renegotiate.

If that is not your situation… and it doesn’t sound that way… then my advice is to contact an attorney NOW. Right now, before your money gets stolen away from what sounds to be a bogus situation.

If the agent did not put that contingency in the contract, then I think you have a cause of action against the agent.

Just don’t fool around and lose your 10k escrow.
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By: Phoenix

Phoenix — Tue, 24 Nov 2009 18:33:59 +0000

I am guessing from your cloudy explanations that you were purchasing a house regarding the mess that you were in.
I am somehow confused with the $10K escrow that you mentioned. Do you mean a deposit or earnest money?

Assuming that you purchased this house that you’re in a mess, haven’t you heard about contract? According to the real estate law, a contract between the buyer/seller/real estate are bindable.

If I were you, I would consult to a Real Estate lawyer and know the law in your state.
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By: anniewog

anniewog — Tue, 24 Nov 2009 18:01:59 +0000

Get an attorney and go the agents broker.
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By: Penny

Penny — Tue, 24 Nov 2009 17:48:59 +0000

what part of CA are you in?
Not quite sure why I got a thumbs down for this question regarding your issue.
I was only asking in hopes that you might be in an area where I could put you in contact with someone who could help you.
I have family in CA in the real estate industry and was hoping to lend a helping hand.
It turns out that you are way too far north. I am sorry that I was not able to help you. I was hoping that I could.
I would really appreciate that the thumbs down be removed. I was hoping to do better than just answering your question myself, I was hoping to connect you with someone in this field. I really hope that this all works out for you. I will pray for you and your family. I am very sorry that this has happened to you.
If I were in your shoes, (I don’t imagine that you have extra money to hire an attorney), I would call a different real estate agent (one that is very well known with at least 10-15 years of experience) and ask them their advice. If there is something that you can do, they will be more than happy to take you on as their client.
Again, good luck to you.
P.S. Call 1-800-200-Lend or Lend America.com
They might be able to help

Hey I did a little research for you,
I hope this helps
LOS ANGELES CAMPAIGN AGAINST PREDATORY LENDING

The Los Angeles City Housing Department has unveiled an aggressive public outreach campaign, "Don’t Borrow Trouble," to raise awareness of the growing problem of unscrupulous lenders who prey on unsuspecting homeowners and homebuyers. The campaign includes ads, posters, other printed materials, public service announcements in English and Spanish, a toll-free hotline, (800) 477-5977, and a Web site, http://www.lacity.org/lahd/.

The aim is to educate borrowers about danger signs of lenders offering seemingly attractive loan terms that can result in the loss of the home. The "Don’t Borrow Trouble" program also includes an affordable loan program called HELP (Homeowners Equity Loan Program), to assist low-income homeowners with high-interest loans to refinance and rehabilitate their properties. Provided by Los Angeles Neighborhood Housing Services in partnership with Wells Fargo Home Mortgage, HELP will assist borrowers who may have already fallen victim to predatory lending practices. For assistance, homeowners can phone toll-free (888) 89-LANHS. Los Angeles is one of the twelve pilot cities chosen by Freddie Mac for this campaign.
References :
http://www.car.org/index.php?id=MjUzOA==