We were scheduled to close yesterday (8-16) and have not yet closed on the house. We have a gov. loan and it is taking longer than expected to get the funds. We are concerned that the agent will pull the contract. We live in Alabama and I can’t find any information on real estate laws in Alabama. Can someone please help!?!?!
We do have an agent. I tried calling her 3 times last week and she didn’t return our calls. I am calling her again in the morning or going to her office. But, you didn’t exactly answer the question?
Out agent is also the owner of the home.
Her father is the broker.
bonsai said:
Feb 02, 09 at 6:45 pmRealtors are just goofers of their broker and generally don’t know anything. Find out who your broker is (the realtors boss).
Do you have a contract with the broker (your contract is with the broker, not with the realtor), what does it say?
Go to the broker with your contract and ask what’s up.
If you don’t have a valid contract, get another realtor (and know the broker), they are a dime a dozen.
sacmen4fun said:
Feb 04, 09 at 11:21 amThe Agent isn’t the one that "pulls the contract" it’s the seller. If you haven’t met the conditions of the contract the seller has every right to cancel the transaction and go on to the next buyer.
Ther must be something SERIOUSLY wrong with your loan or your realtor wouldn’t bail on you. The Realtor doesn’t get paid unless the deal closes.
DOES THAT ANSWER YOUR QUESTION?
Hopeful_Home_Solutions said:
Feb 05, 09 at 2:49 pmWhether a seller can back out of a contract is determined by exactly what is written in the contract. Usually there is an "on or about" date for real estate closings. That means 30 days before or after, at least in NY.
Check exactly what your contract says. If you have a lawyer, ask them for clarification. If you’re not working with a lawyer, ask your title company who is handling your closing. They are usually pretty helpful.
Whether your "agent" pulls out of the deal is irrelevant. If the "seller" pulls out of the deal is the important aspect. For you they are one and the same it seems. Considering her father is the broker, I hope you had someone representing your best interests in the transaction such as a lawyer or a buyer’s broker working on your behalf.
Good luck.