Legal Question in Legal Ethics in California

I have been in escrow for some time now (numerous setbacks and issues involving the "selling end") and, as new terms and conditions were presented to me by the seller,

I was told I'd have to cancel the current escrow which would enable them to produce a new real estate purchase contract (including the reduced selling price) which was to allow us to move forward to closing. I signed the "Cancellation of Contract, Release of Deposit and Joint Escrow Instructions" only a couple of days ago (on July 28th) and it is highly unlikely that escrow has even seen it, much less had the time to process it.

I am now seriously anticipating my contacting the escrow officer and requesting that they put a "hold" or "freeze" on the current escrow cancellation pending the new, fully executed purchase contract signed by both buyer and seller (which has, yet, to be produced). In my opinion, the demand for my signing cancellation instructions was illegal coercion by the very fact that the realtor has failed to make any contact with me to initiate the new and agreed upon real estate purchase contract. This, most definitely, must be a violation of professional ethics.

I am refraining, at this time, from taking this matter up with the California Association of Realtors,

the California Dept. of Real Estate or the Calif. Real Estate License Board - all of whom I understand encourage and handle consumer complaints.

Any and all feedback regarding this issue would be greatly appreciated!

Thank You!

1 Answer from Attorneys

Related Questions & Answers

More Legal Ethics & Professional Responsibility questions and answers in California

Looking for something else?