My mom is a widow and has her home up for sale. There are buyers for the house but there was a mistake on how the papers were written up so the closing fell thru. Now they are trying to go thru another bank. RE lady is telling my mom that it WILL go thru and that even if it doesn't the people will pay. She let the people in my mother's house to paint and did not tell my mom till' AFTER the fact. THEN let them move in their furniture and didn't tell my mother until my mom mentioned she was taking a ride to check on the house. She said they signed a waiver but my mom hasnt' seen it yet. She is upset because she doesn't know if these people are living there and the RE lady said that she doesn't want to upset the ppl so the sale doesn't fall thru. My mom wanted to look at the house and take pictures before it was sold and is so upset. Is this right and okay? RE lady says it is common. She also said they will pay rent for the next few wks until closing goes thru. Is this okay?
2006-12-16 08:12:14 · 4 answers · asked by Nurse2b 1 in Business & Finance ➔ Renting & Real Estate
No, this isn't common. In fact, if anything happened to those people while they were in your mom's house, she could be liable (i.e. they fell off a ladder while painting and got hurt). This actually happened with my parents. They reported their agent, and the buyers had to move out immediately. It's your mom's house until the sale becomes final. If she didn't authorize and agree that the buyers move in beforehand, they shouldn't be there. Your mom should talk to her agent's broker, and/or the local real estate board. I hope this works out well for her.
2006-12-16 08:26:21 · answer #1 · answered by Sithein 3 · 0⤊ 0⤋
That's why I won't get a broker's license. The broker is held responsible for stupid, illegal stuff like this that some agents will try to pull.
That agent should not have a license anymore.
Have your mother get a lawyer. Let the broker know what has happened, so the broker can take over the transaction and send that agent's license back to the state. No broker in his right mind wants people like that working under him.
Unfortunately for the broker, it will be his license also on the line, and his errors and omissions insurance against whom a claim may be filed. The broker should personally take over the deal and make sure it goes through.
Lastly, when people do move in prior to closing, it's done once the seller is sure that the loan will be going through. Not because the loan just fell out. The seller should also have a temporary lease with the buyer and money being paid for the lease time (there may be money being paid now - although the seller is not seeing it...)
2006-12-16 08:39:04 · answer #2 · answered by teran_realtor 7 · 1⤊ 0⤋
If your mom is not comfortable with it then don't let them in. There should be written documents and signed if they wanted to move in and pay rent. Remember the real estate agent could be working for the so-called buyers and praying on a widow.
Stop this immediately and fire the real estate agent. She will sell her house, do it on your own.
Remember this agent is hired by your mom and should be working for your mom, she is not doing this properly.
2006-12-16 09:34:37 · answer #3 · answered by schell_75 3 · 0⤊ 0⤋
It is not common -- is in fact highly improper, and the real estate person should be reported to the local board to have her license revoked. It is possible for new owners to move in before formal closing (I have done so myself), but it requires a specific written agreement. Absent such agreement, the new tenants are trespassers and are subject to arrest. Please see a lawyer.
2006-12-16 08:18:04 · answer #4 · answered by Anonymous · 3⤊ 0⤋