Buyer's RE Agent forcing us to sell our house at a ridiculously low price

[Mark K]

Maybe where you are. Not here.

Most here do for this simple reason: A good attorney once told me that the real negotiations for the sale don't end with the signed purchase contract, they begin with the inspections. Exactly what's happening here.

The OP needs a good attorney, NOW.

We're not seeking legal counsel; we're asking for advice.

The best advice you're received so far is... GET AN ATTORNEY.

 

[Terrel L. Shields]

Most here do

OK has a disclosure statement that the seller must fill out. If the buyer wants a home inspection, it is on them.

 

[Mark K]

OK has a disclosure statement that the seller must fill out. If the buyer wants a home inspection, it is on them.

Same here. Buyer pays for inspection and then uses it to try to screw the owner to the greatest extent possible. The buyers that don't get inspections here are the exceptions.

The last home I sold (an estate) I put in the counter to the purchase agreement: "Buyer is free to get any inspections desired, however, the seller will do no repairs nor make any repair concessions; the sale is absolutely "As-is".

 

[djd09]

legal advice...nah...just take it off the market

 

[Fernando]

Same here. Buyer pays for inspection and then uses it to try to screw the owner to the greatest extent possible. The buyers that don't get inspections here are the exceptions.

The last home I sold (an estate) I put in the counter to the purchase agreement: "Buyer is free to get any inspections desired, however, the seller will do no repairs nor make any repair concessions; the sale is absolutely "As-is".

The reason for advanced inspection reports are for full disclosure for all buyers to see and aware of. Usually, buyers knowing what they get will adjust their offer price to reflect the "defects" of subject.
By letting buyers to do inspections later, surprises come up and delay the transaction.
In the past CA did the old way and let buyers do the inspection.
Now it's common not to be cheapskate seller and do the inspection for all interested parties to make an offer. Some want fixers, some don't. Of course, a buyer can put a contingency to do their own inspection but sellers usually prefer an "as is" quick close of escrow.
OP's agent allowed the transaction to get more complicated than it should be by putting the transaction in a predicament. When money deposit goes into escrow, BOTH parties need to agree if there would be a refund and the terms need to be clearly stated.

 

[JTip]

The end result is all counters are off the table and everything reverts back to the original contract. Now if they have failed to perform based on the original contract, it becomes null and void due to the buyer missing specific action dates contained in the original contract.

Nailed it.

 

[Zoe]

We're not seeking legal counsel; we're asking for advice.

Your agent is the best one to help you. They have lawyers. Either that or you need to hire your own lawyer. Your agent will know a lawyer.

 

[Zoe]

legal advice...nah...just take it off the market

That is definitely an option but it may not settle the contract the subject owner signed with their agent. If they get another agent, they might could still be liable to the 1st agent. That would probably be handled with local board of realtors on an internal basis. Disputes like that are handled internally with NAR. They could file complaint with local board of realtors.

It would not cost anything to file complaint with local association of realtors (just time).

 

[Zoe]

Have you ever heard of Morgan and Morgan law firm? They work California. They have over 1,000 lawyers that cover many states. If they can't help you, they will know somebody who can. I would go to local association of realtors and file a complaint personally and let your agent tell the other agent what you are going to do. The local association of realtors has authority over both of those agents.

 

[Zoe]

By the way, how big is your roof? Make sure you take your home inspection to the local association of realtors and a copy of your contract with your agent and the other agent.

I know you probably have got an estimate on what it cost to replace the roof. If you just spent $85,000 on other upgrades?

Do you see my point?

You could even call the appraiser if you had one and say did you require a roof repair on your appraisal? They might answer that. Might not, but local association of realtors would help you.

If your agent was worth a crap, they would file the complaint for you with local association of realtors.