Yes, but unfortunately, the realtor sent it to me before he sent it to my lawyer.
Response 1: When you have retained an Attorney in the case, you should not sign any documents without getting the green light from your Attorney especially when the transaction has to do with real estate. The contract is an enforceable contract if you signed it.
My lawyer, unfortunately, was not really protecting me in this matter. I feel I should have had some other mechanism outlining the return of the deposit. He told me after the fact that that was a huge amount for a deposit up there in the country---why didn't he tell me that?
Response 2: I do not know, but he should have conveyed his concerns to you. However, if you signed the contract before he had a chance to review it, it would have been too late for you to rescind the contract based on his concerns.
Also, my realtor, encouraged me to waive the right to have it inspected because it would speed things along.
Response 3: It is NEVER a good idea to take advice from a realtor who is working on commission when you have an Attorney in the case. Waiving of home inspection is NEVER in the best interest of the Buyer. It is however in the best interest of the realtor because that would make it much easier for him or her to get his commission for the transaction. The realtor is self-dealing here and in violation of his fiduciary duty to act in your best interest. You may consider filing complaint against the realtor with the doard of real estate licensing. Click on the link below for the complaint process:
I really feel there was some collusion between him and the seller's realtor--but how could I prove that? I don't mean to muddy the waters with these other matters--just wanted to give you a sense of the situation. They all know each other, I'm the outsider from NJ.
Response 4: See my previous response. Thank you for the information.
Your prior post
I did not notify them of that within 7 days because I did not find out till the end of May that the purchaser of my Teaneck house couldn't get a mortgage. I showed the what I had on hand, and they wanted more proof. Wouldn't it be up to them, if they put the proof of funds time stipulation in there, to release me if I obviously didn't have the funds?
Response 5: Regrettably, no. The burden is on you and your agents to notify the seller and either ask for extension or back out of the deal when the proof of funds was not forthcoming. The seller or his/her agent has no legal obligation to release you from the contract if you did not take action to ask for release.
Was the contract even valid since I went beyond the 7 days without proof?
Response 6: Yes, the contract is valid. It was up to you and your agents (realtor and Attorney) to request for an extension or back out of the deal on or before the 7-day deadline.
I kept trying to get the money together till the beginning of June.
Response 7: Your realtor and your Attorney should have requested for extension on your behalf to preserve the deal or send a notice to the seller/seller's agent backing out of the deal on or before the 7-day deadline.
If you are not able to receive your full refund from the Seller, you may look towards to the realtor and Attorney for relief.