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Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 118085
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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My two sisters and myself listed an estate sale through a

Customer Question

My two sisters and myself listed an estate sale through a real estate agency. another agency contacted our agency with a qualified buyer that put down $250.00 earnest money.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: NC, Our agency closed on the property and after signing, said the money was not available and would be a week before the people could come up with the money. A week went by and the buyer requested an extention of two weeks, we agreed if they put up $5000.00 earnest money.
JA: Has any paperwork been filed?
Customer: Not to my knowledge, Our agency said they could not get any response from the buyer or agency and wanted us to sign a form aying we had to do so in order to get the $250.00. My sisters signed, I did not because I read it was to release the money back to the buyer. A short time lasped and my sister removed the appliances and donated them to the Salvation Army. Shortly after a new buyer agreed to buy the house. The original papers previously drawn up was used stating the appliances were included. We agreed to deduct $500.00 to make the sale. So what now!
JA: Anything else you want the lawyer to know before I connect you?
Customer: I think a new contract tp sell should have been drawn, the 250.00 in my thinking was a breach of contract and we three were lied to about signing a document to receive the earnest money....Thank you
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 10 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
First of all, the sisters should not have signed to release the earnest money as the first buyer was in breach of the contract. If your agent did not act properly in protecting you, then you could pursue them for breach of contract a well. At this point you need to notify the agency is in breach of contract and tell them that they need to fix the sale deal or you will sue them for breach of their agency agreement with you. If they refuse to do so you need to fire them and go to another agency and then sue the first agency for breach to recover your money.
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