Posted by Natalie-VA on January 05, 2006 at 14:08:04:
Marilyn,
I’m not an attorney…I’m a RE Broker.
Do you have a raified contract? In other words, did the seller sign off on it? If not, you have nothing. Even if they agreed verbally, RE contracts must be in writing to be enforcable.
If it was signed off on, bring it to your attorney and tell him to proceed with closing.
–Natalie
2lots, owner selling as 4 & up the price - Posted by Marilyn
Posted by Marilyn on January 05, 2006 at 07:46:35:
What a mess… we are in the process of buying a lot in NY, Niagara County. The Town building office said the seller has TWO lots and have been approved to be subdivided yet never filed with the county. the Town says the seller has TWO lots. The county says the seller has two lots.
My real estate agent put in a verbal offer on one of the lots and received a green light to submit the contract. We signed the contract and gave the initial deposit of $1000.00. The sellers live out of state and their agent is an elderly woman and acknowledges that she has our deposit money.
Now, the problem… the sellers are trying to say they have 4 lots for sale when they only have 2 lots. The 4 lots they have listed with a real estate service overlap eachother!
According to the purchase agreement, we are scheduled to close Jan 31st 2006. Our builder has already checked the land and is ready to go on Feb. 1st to start our basement. Now the seller wants to up the cost of the lot double. What if anything can we do?
Re: 2lots, owner selling as 4 & up the price - Posted by Sailor
Posted by Sailor on January 06, 2006 at 16:52:06:
Did you get a survey? Around here, a survey is always done; otherwise, boundaries have a way of changing. Do you have an attorney? Have your brought in the agent’s broker? I know all this is frustrating (speaking from long-term + recent experience), but it should be resolvable as long as you get the right folks involved. If your agent isn’t a good one, the problem could be there instead of w/the seller. Good luck!
Tye
Re: 2lots, owner selling as 4 & up the price - Posted by dealmaker
Posted by dealmaker on January 05, 2006 at 08:43:23:
Why does the AGENT have your earnest money? It should be held by the “closer”.
Your contract MUST state what you are buying! ie; Lot/Block/Suddivision, or maybe “metes and bounds”.
You are buying, and the seller is selling WHAT IS ON THE CONTRACT. So, the question is; What is on the contract? If you can’t resolve that it’s time to send a letter to the agent, her broker and the seller about the likelihood of their collusion in fraud.
dealmaker
Re: 2lots, owner selling as 4 & up the price - Posted by Marilyn
Posted by Marilyn on January 05, 2006 at 09:25:17:
$1000.00 was the deposit to go with the contract for the land. It was sent by my agent to the seller’s agent with the contract after a verbal agreement was made for the price. We originally offered 11,000 and they came back verbally with 12,000. At that point, we signed the contract and my agent sent it to their agent for their signature with our deposit check.
Yes, the contract shows the exact size of the lot as 192x395 and the tax id number according to the town and county and all the subdivision codes.
You are buying, and the seller is selling WHAT IS ON THE CONTRACT. So, the question is; What is on the contract? If you can’t resolve that it’s time to send a letter to the agent, her broker and the seller about the likelihood of their collusion in fraud.
This is what I need to know… How can this lady try to sell 4 lots when she only owns 2 (the other 2 will overlap), and up the price after agreeing to sell one of the lots.
The seller listed 4 lots for sale with Hunt Realty as follows…
92x395 ----- Lot 1
110x395 ----- Lot 2