We were not notified and just found out. My closing is in two days. We have not been happy with the demands of the buyer on an "as is" house. We also were told we could not put in escrow or provide a a paid for receipt for cost and installation of the a/c unit as we have done in the past. The closing twice bumped by the buyer and during the extension the a/c unit was stolen. Who is liable?
Unless you receive notification to the contrary, the broker is a "transaction broker" who does not "represent" either the buyer or the seller. A transaction broker helps both the buyer and the seller facilitate the sale. If your think that the broker or the buyer are acting improperly, you should consult an experienced real estate lawyer.
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
First off, yes, your Realtor should certainly have notified you that they represented both you and the Buyer. Are they required to by law, no, not unless they were acting as your 'single agent'. It is important to know, every time a change occurs to the purchase/sale agreement (such as extending the time for closing, adding additional stipulations regarding the A/C), you have a new contract. Technically, every time you agree to change the closing date, you have a new contract with a new closing date. If you are unhappy with the stipulations presented by the Buyer - DO NOT AGREE TO THEM - and then be prepared for the Buyer to walk away. But, if you agree to the Buyer's demands, you must comply with them. As to who might be liable for the stolen A/C, that depends on the wording of your contract. At this point, you are too close to closing for an attorney to be able to provide much assistance. Next time, have a real property attorney represent YOUR interests and this sort of thing won't happen.
Carol Johnson Law Firm, P.A. : (727) 647-6645 : firstname.lastname@example.org : Wills, Trusts, Real Property, Probate, Special Needs: Information provided here is anecdotal and should not be relied upon or considered legal advice. Every matter is different and answers given here are general in nature and may not reflect current Florida law at the time you are reading this posting. Please contact me if you feel you need additional assistance with your matter.
I real estate broker may act as a "disclosed dual agent". However, a broker who acts as a disclosed dual agent has an ethical obligation to disclose that he or she is doing so. Here in NJ, the broker is required to get your consent to dual agency in writing prior to the signing of a contract.
You are likely on the hook for the stolen AC unit.
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