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I live in Indiana. My realtor represents both me the buyer and the seller who she is friends with. I made an offer on a home. I had it inspected. The inspection found mold in the crawl space due to poor ventalation and no moisture barrier put down at construction. The seller disclosure form states that there is no mold or moisture problems. When I told the realtor about this, she stated that it is not considered a major defect. I disagree due to potential illness,and long term effects on the home. She also states that as a condition of accepting the offer, the seller stated they would not make any repairs. It was the first I knew of this and have nothing in writting stating this. If I had known they would not make repairs, I would not have proceeded to the inspection. The realtor withheld information that would have had an effect on my decisions. The written offer states that it is subject to a “satisfactory inspection” and I am responsible for no money towards any repair. This is not a minor repair, not disclosed, not routine maint. I do not want to move forward to closing and purchase a home with mold problems. Am I stuck with this home? Can I walk away with my earnest money and without legal problems from the seller? Please help!! I suddenly can not get a hold of my realtor!!
I am not an attorney, and I have no experience in your state. However, based on my experience with selling residential property in California and Alabama, I offer the following ?advice.? In practice there is nothing that the seller or the seller?s agent can do except return the earnest money if you had a normally worded contingency clause such as ??sale is contingent on Buyer?s approval of an inspection of the property? and if you invoke the contingency in writing to the seller?s agent before the end date of the contingency. If they do not return the earnest money as specified in the Contract for Sale, then they essentially tie up the property so that it cannot be sold to anyone else. Put in writing a notice that you invoke the inspection contingency and the sale will not go forward; then hand deliver or mail by special delivery the notice to the Seller?s Agent and the Agent?s Broker. If you hand-deliver to the agent or broker the notice, insist that they sign an acknowledgement that they have received the notice. If they refuse to do so, then go after their licenses with the state?s RE licensing body.
I do agree with one of the other responders; you are probably over-reacting to mold. It?s the current bugaboo of housing inspectors; they will almost always find some.
Re: biased realtor - options - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on June 13, 2004 at 10:02:44:
What you have is a “dual agency” situation. The agent represents you and the buyer. This is a very difficlut situation, as it is extremely hard to please two masters.
Next door here in Ohio it works like this. If the agent is an agent for the broker, the matter should be taken up with the broker. The broker would then assign the agent the job of representing either the seller or you (not both). If there is another agent in the office then that agent could represent the other party thus eliminating the “dual agency” situation.
In the case where the broker is the whole company and has no agents there will be a dual agence every time that the sale occurs in house. This is my situation, I am a broker with no agents. My state requires that all parties sign a “dual agency” form agreeing to the dual agency. I am not sure about your state.
When a dispute occurs and I am the dual agent I offer to get representation for the dissatisfied party. I usually offer to pay a sum of money from the commission to the attorney of the parties choice. I usually cap my offer at $400. You can get a good bit of advice for $400. Often only a few words or sentances need a bit of change. This generally solves the problem.
Now in your case the above might work, but let the selling broker pay for it. In the case where an agreement can not be reached, no doubt your state has a division of real estate. Call them. They probably have a toll free number. It is the divisions job to protect the public, so tell them you need help.
Many people will say “call a lawyer”. DO NOT DO THAT, just yet. In my state if one party or the other has made a court issue of things then the division is reluctant to interfere. So use the division first (no charge) as opposed to hiring a lawyer (retainer + divide any number by three).
James, you shouldn’t be stuck here. Write the agent that you are not satisfied with the inspection and back out of the deal. Do not state in the letter why you are dissatisfied with the inspection. Do not tell if you are asked. It is not a concern of theirs.
You are likely mistaken about the risks of this mold to health. There are some very rare types of mold that are harmful, but insurance companies often have problems with any mold.
Do not take my word for this. Contact a competent legal advisor. I have never done a real estate transaction in your state and I haven’t seen your signed contracts.