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I'm a realtor and have had the same property in escrow twice and both times one of the co-trustee's (because it's a probate sale) has chased off the buyer within a day or 2 before the 17 day review period. One of the prospective buyers even wrote a letter saying the occupany threatened them, so they were walking away from the deal. The house may end up in foreclosure, so is there any hope of me filing a lien and getting my commission.
Submitted: 292 days and 5 hours ago.
Category: Real Estate Law
Value: $20
Status: AWAITING CUSTOMER ACTION
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Optional Information
Granite Bay, California
Already Tried:
nothing except try to secure another buyer. I have been working with the bank to keep it out of foreclosure. A sale date from indymac bank will be forthcoming April 12, 2009
Answer
Normally no commissision is earned until the house is sold. A seller cn of course refuse to sell his home. If you presented a valid contract with a buyer ready, willing and able to complete purchase for the stated price it is possible the trustees conduct was a breach of the real estate agreement. Your sales agreement should have the conditions for when the commission is earned. In any agreement there is a duty of fair dealing and to act in good faith. It appears the trustee has violated that duty by his conduct and you may be entitled to compensation.
Since the trustee breached your sales agreement you should be able to sue the estate for your commission.
You can also speak to the benefiaries of the trust. They are able to remove the trustee and/or sue him for breach of his fiduciary duty.
You should hire an attorney and get a try to get judgment against the trustee and the estate. Once you have a judgment you can lien the trustees property and or the estate.
If this answer was helpful please press ACCEPT so I may be paid.
Please be aware that my answer is not legal advice, it is merely information and no attorney client relationship has been formed. You should always contact a local attorney for legal advice.
Expert:
jrzepka
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99.0 %
Accepts:
Answered:
2/5/2009
Lawyer
Mediator, part of the Ohio Save the Dream Foreclosure project
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