incompetent realtor

The Art & Science of marketing Manufactured Homes. Retailers, sales people community operators and managers share experiences.
Post Reply
Beth

incompetent realtor

Post by Beth » Mon Feb 27, 2006 10:44 am

I'm hoping someone can help me on this website. I sold a MH in June of 04 on a promissory note. I was told the gentleman already had financing, I signed a purchase agreement for another home. In the meantime his financing fell through, I'm stuck with the MH and locked into a purchase agreement. That is when my realtor came up with the idea of a promissory note, with a balloon payment due June 1st of this year. He has since tried to get financing, turned down. He wants me to extend the contract. This whole deal has been totally mismanaged. I can't get the realtor to return my calls, basically it's my problem now not theirs. Who can I complain to? I have the right to sue this gentleman after June 1st for breach of contract, can I sue the realtor and her company as well? This has been very frustrating. Also, the park has new management, they do not allow "renters" in no way, shape or form. Any advise would be greatly appreciated. Thanks... Beth

mac

Re: incompetent realtor

Post by mac » Mon Feb 27, 2006 7:15 pm

A bit of money invested in a consultation with a real estate attorney would be money well spent. You may well have a cause of action against the Realtor, which may be why they aren't returning your calls. I'm sure they have Errors and Omissions insurance to cover this sort of thing.

rmurray

Re: incompetent Realtor

Post by rmurray » Mon Feb 27, 2006 8:01 pm

Maybe you should talk to the attorney that you had advice from when you first got into this deal...The most expensive legal advice is after there is a mess...No one here can give you legal advice...You will have to get this from a local attorney....I doubt the real estate agent is liable at all...Maybe you should talk to the guy living in the home about what you 2 can do to solve this problem....If you have a finance agreement with the currant owner...the park cannot object to a renter...He/she is not a renter they are owners who owe you money instead of a bank....You could structure a term agreement and keep good payment records..then sell the contract to those who buy owner financed paper....You would have to discount the note quite a bit...A small investment in an attorney at the beginning would have been a small cost next to the problems you seem to have now..

Post Reply

Who is online

Users browsing this forum: No registered users and 13 guests