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Is an agent liable for presenting a contract which the agent knew the property had several owners an

1)    The contract was not signed by person with full ownership of properties

2)    The contract was not signed by the person…to date, we have no idea who signed the contracts.

 3)    They had 60 days to clear the title and it has not been done.

4)    Both agents promoted contract was valid and did not timely inform us of problems of the purchase

5)    The properties are not in the condition that we said we would accept them.

 6)    All leins and interest from 3rd parties are not removed.

 7)    No new contract was presented to us from buyer that is valid.

8)   Seller gave notice to the listing agent that the owner had 10 days to provide clear title or the agreement would be terminated

 9)  Did not received seller disclosure forms on these units

10) Lawyer sent notice and still no reply.

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October 07 2013 - West Des Moines
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Answers (5)

Profile picture for wetdawgs
Glad you retained a lawyer.  Please share your list of questions to the lavvyer,
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October 07 2013
As Tim stated we don't really know enough of these details to answer the question in a helpful manner.  We are just guessing.



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October 07 2013
Sounds like you never had a valid contract, if someone signed it without having a POA then it was plain fraud and if the agent new this then most likely he is liable. I will definitely consult with an attorney and file an ethical violation with the local board of Realtors.
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October 07 2013
No way we can answer that because we don't know a lot of details or have a time line. Some of those things don't happen until closing occurs and funds are transferred. Such as paying off liens. Getting a clear title can be difficult sometimes and no one can predict the problems that pop up. Then finding people to sign or do what is needed can take time.

You have a lawyer involved so they can answer your questions I am sure. 
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October 07 2013
Most contract have a clause that protects agents against liability but if you feel there may have been an ethics violation, you can file a complaint with the local Board of Realtors.

In this case, it appears you don't have a valid transaction and probably should ask your attorney to send a release and cancellation so you can get your Escrow Deposit back and look for a more suitable property.
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October 07 2013
 
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