I have never really trusted Real Estate Men in my life- there was something sinister about them, however, I’m in the process of selling my house and I have to buy a new one – ON MY OWN. Now that my husband and I are divorced I’m going it alone.
Now to start off with I’d just like to say up front – I am responsible for the decisions I make and take full responsibility for my actions, however, I trusted a real estate agent and this is where everything fell apart.
I sold my house. I wanted to buy a new one and the only new one I could afford was a house and land package. Nice! A completely new house. I advised the estate agent that I needed the house to be completed by the time I got settlement on my own house. Simple! Yeah right. I gave the guy $500 and signed, what I thought was a contract to HOLD THE HOUSE until it could be determined that it would be built in time.
The agent told me that the builder was starting work on the house the following week so all was looking good for the move. I signed the paperwork and thought at the time I should have written down “on the proviso that the house was built in time for settlement” but I didn’t follow my gut feeling and have lived to regret it.
I have since learned that I did sign a contract of sale. Added to that the Agent kept telling me that he was talking to the builder the next week and for three weeks kept telling me that but wasn’t speaking to the builder. The builder has only JUST started building the house by putting concrete slab down. OK not going to be ready by the time my house settled.
At the time of signing I let the agent know that I couldn’t afford to Rent, was selling ALL MY FURNITURE and moving into the house with the “bare essentials” to start fresh. I have a dog and couldn’t move into a rented property because of those issues, getting the electricity and gas put on as well as other amenities.
I have been asked for the deposit monies of $19,000. Money I don’t have at all until settlement of my house. I explained this to him and said that if the house isn’t ready in time I’m going to have to find another house.
I have since found another house and put a “holding fee” of $500 on it. No contract has been signed, just a piece of paper saying they are holding my money. On signing this I realised the mistake I made with the first agent.
I am now being “sued” for the deposit monies.
My conveyancer tells me that once I receive a rescission notice and wait two weeks I can get out of the contract, however, if they sell the first house for less than the price they were going to charge me I will have to make restitution and pay the difference. I know for certain that they will sell the first house for more than I was going to buy it for since I made some changes to the plan (originally) and they were charging me LESS because I was going to do a lot of the work myself.
Yes I’m in a pickle of my own making. Yes I signed something without getting proper counsel but the first agent also told me “You are my client, I work for you and you can get out of the contract” – who do you believe?
Now I’m stressing because if I don’t get out of the first contract I can’t buy a house. If I lose the second house I don’t have anywhere to live and the settlement date is getting closer and closer.
It’s all a learning curve and I know that I will come out the other end and certainly will have gained a fantastic lesson, however, it’s Real Estate Agents that give the world of buying and selling a bad now. They’re up there with Car Salesmen.
I know there are honest Real Estate and Car Salesmen out there but they’re in it for the money as well as the rest of the world.
I am only one of many women who have gone down the same road. I’m not bitter, as mentioned I have learned a great deal. All I know is that I have to get my house ready for the new owner to come in and that’s my priority right now but again I’m spending more money, this time on a skip to throw away all my stuff. Where does it all end?
I look forward to blogging again, either from jail or from my new house – I’ll let you know how things turn out.
Good luck to me!!!!