Legal Question in Real Estate Law in California
Legal question about contract agreement
Last week my buyers made an offer, and the listing agent said that they already have an offer signed but she was waiting for the person that made the offer to perform some sort of action. She requested from me credit report from my buyer as well as bank statements. Wich I submitted that same day. Two days later the listing agent called to notify me that escrow had been opened with my client. She gave me escrow number and all the information regarding escrow. my buyers sent the money to escrow , they signed the escrow instructions and disclosures, which are already in escrow. Last friday the listing agent called me to let me know that the agent from the first offer called her asking her for the escrow number. She told them that she never received the performance and she had already opened escrow with the second offer wich was ''my offer''. So the agent from the first offer was angry and they toll her that they are going to sue the sellers because the contract was already signed . So the listing agent called me and told me that my offer will be handeled as a ''back up offer'' and that I have nothing signed by the seller, wich made my buyers to get angry now.
I would like to know how you can help me?
3 Answers from Attorneys
Re: Legal question about contract agreement
It is hard to follow your facts. Are you a buyer, a seller, or both? Who does the listing agent represent? Is it a situation where two people each think they've bought a house you're selling?
As has been suggested already, the oral statements by agents, brokers, escrow holders, etc. aren't what determine rights and priorities. The parties rights and obligations will be determined by the signed documents.
It's possible you are unwittingly falling into a trap where you will end up with conflicting legal obligations (or no deal at all), and it would be wise to get a 1-hour consultation with a local real estate lawyer before you end up with a much larger legal bill.
Re: Legal question about contract agreement
Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters, notices, the full contract, and lawsuit or request for arbitration - mediation if filed. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.
Re: Legal question about contract agreement
The situation must be analysed with reference to the signed paperwork. Don't agree to anything further before this analysis is done. You should hire an attorney for his analysis and advice.
There are many options, but the relative advisability of any options can only be determined after careful consideration of the signed documents.
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