Unit 4 Real Estate

Unit 4 Real Estate - office. Mr. Salesperson has also...

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Date: September 20 th , 2011 To: Barbara Buyer From: Derek Fermin Re: Written Contractual Agreement Dear Barbara Buyer, This memo is in regards to your questions about a contractual agreement that you entered into with Sam Salesperson. This appears to be dual agency disclosure as per the contract. When you spoke to Mr. Salesperson you both agreed that you would, without a notice being drafted that very same day, enter into an agreement that your earnest money would cover the sale and that you would be awarded the sale of the home that you are wanting to purchase. Two days have passed and you still have not received a notice, per our conversation. As the trust in this case, Mr. Salesperson, he has breached your contract. The contract should have allowed you to purchase the said home in your contract, but instead of contacting you he found another buyer with a higher bid. There is no contract extension anywhere that I have seen from your documents that you have left in my
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Unformatted text preview: office. Mr. Salesperson has also broken a trust with all home buyers. Entering into a dual agency without full support on all parties is grounds for a cause of action. Since there was a contractual agreement that was made with the trust of this purchase, there was a contractual capacity. Therefore, this contract is valid. Mr. Salesperson is at fault and also the seller of this home. They have chosen to a rescission of the contract by selling to a third party for a higher price. I do believe that your remedy to this situation would be to sue for monetary damages for your breach of contract. I also recommend that you file a formal complaint with the board of realtors, under your state guidelines. Thank you for your time and I sincerely hope that this will guide you in whatever you choose to do. Derek Fermin...
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This note was uploaded on 10/02/2011 for the course LAW PA 300 taught by Professor Prestonmigdoll during the Fall '11 term at Kaplan University.

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Unit 4 Real Estate - office. Mr. Salesperson has also...

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