Legal Question in Real Estate Law in Maine
We were selling a house a couple years ago and the buyers put a $5,000 deposit down. The buyers asked to move in a couple days before the closing so we agreed. The purchase and sale agreement was written by our real estate agent and in the agreement she made a big mistake which we all signed. We owed the builder of the house some money and the buyers agreed to pay that when they made the offer on the house but in the agreement the agent put that the seller was taking care of that. We all knew that the buyers were paying that. The buyers decided not to close on the house and lived in it for almost a year without paying a penny. They would not buy the house. The earnest money is still being held by the real estate agency and they just sent us an email that they are releasing it to the buyer after almost two years. Is there anything we can do?
2 Answers from Attorneys
First, why did the buyers not close? The contract should have only allowed a few reasons that would have allowed them to keep the security deposit.
Was there any agreement on renting the house before the closing? You may be able to make a claim for rent owed, but without knowing all the details of your situation I can't say for certain.
About the money that was to be paid to the builder, unless you can prove that it was a mistake and that the intent of all parties was for the buyer to pay, then what was signed off on is the agreement.
Your question ends with asking if there is anything you can do. My question is what do you want to do? Evict the holdovers? Seek to collect back rent? Obtain turnover of the security deposit from the realtor? All of the above?
Maine standard-form Sales Agreements have a mediation provision. If you are not seeking to enforce the contract then the issue of the mistake about the expense to the builder is not relevant. Has the broker sought any comission? Did the broker represent just you or dual represent both parties?
The circumstances of the buyer breaching the agreement to close would need to be carefully examined. A more indepth review of the writings and discussion would need to be had, at least over the phone if you wish. Thanks.
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