RealEstate agent question?
Posted on December 28th, 2009 by admin
My agent ref me to a loan broker who was his father, I live in cali & he removed contigencies knowing we didn’t have a loan. we had to put 5% down for loan, Then our loan guys calls us 10 days before close asking us for 3% more & with an outrages APR or else I will lose my 10,000 in escrow. We had to leave work and try to get another loan from Bof A which we got with out anymore money other than the 5% we may not close in time & will be fined by the seller. my agent (was a friend) knows that my son has been recently diagnosed with a cyst inbetween his eye&brain and could possibly be cancer, I have been unfront with them from begining to end i told them everything my credit & financial situation and they both said no problem. Before I placed a bid we asked our agent only place it if we are confrimed with the loan becuase we have no money to put down and the little that we do we need it to make the renovations to the house since the house needs some fixing. I want to fire my agent can I
http://answers.yahoo.com/question/index;_ylt=AjwRMC_QZip2mzEx6PJyIovsy6IX;_ylv=3?qid=20080217225845AAluiDZ
Things must be definetly done different in texas
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 am sure that was not even the tip of the iceberg of the things he did wrong
December 29th, 2009 at 2:53 am
Things must be definetly done different in texas
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 am sure that was not even the tip of the iceberg of the things he did wrong
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