I’m with Tom. If they choose not to sign the addendum, then so be it.
If you try and cancel the purchase agreement at this point be prepared to be sued immediately, inlcuding the filing of a Lis Pendens which will tie up your property until this transaction is resolved.
Whether the agent has a license or not should not be the basis for holding up the transaction. A licensed agent would have been paid as part of the transaction, right?. This is an issue between the DRE and the agent. After close, file a complaint with the DRE. They may loose their license.
I am at the end of escrow and the sell of my home is about to close. It was suppose to close a week late on Friday only to be held up once again from the buyer. On Saturday I faxed a demand that an addendum be added to contact and entered into escrow.
This is due to the fact that on Friday I was told that it would close by the escrow agent as soon as they got the funds. Everything was done and it was a matter of the recording after funds were received. That never happened of course. We were packed, ready to go, had a moving truck and everything.
When I researched the buyers agent it said that her license is “NBA” meaning no brokerage affiliation. She is an agent for Remax in CA and it said she has been since 2003.
The law states that within 5 days the DRE has to receive notification of a broker - licensee association. There is no way this has been done if after a year she is still listed as NBA.
Today my realtor called and said the buyers funds are supposedly waiting and were wired on Friday. In the addendum I asked to have it close by Tuesday, have a moving truck provided to pay for the one I already paid for, and to stay in the home until Friday since I am leaving town for training on a new job I just started. Now I am told they want me out by Tuesday and it will close tomorrow. Not to mention they don’t feel an addendum is needed.
My thought is to go to the escrow office when they open in the morning and simply cancel the sell at this point. Or add an addendum myself that stipulates the buyers agents fees are to be held until I can verify her license, along with being able to stay at the home until next Friday since I can’t be here to move.
I don’t know about the agent or the license, but I do know an addendum isn’t worth the paper it’s written on unless you can get the buyer to sign and notorize it.