Real Estate: California/escrow not opened by agents
I gave a good faith earnest deposit on the purchase of a manufactured home in Cathedral City and had a fully accepted contract on June 11. The sellers agent did not open escrow or title although it was stated on the accepted counter. I sold my condo in Phoenix and have closed. My agent who had the check blames the seller agent for not opening escrow and title. and now I have movers moving me on the 10th of July. Maybe the title and escrow will be open on 8th. Which leaves nothing done like termite report, fire dept inspection and my inspection. My Agent thought a lease of 40 dollars a day I pay to the seller until closed was fair. Im thinking someone did not do their job and I don't feel it is fair that I have cash to close and now being charged a penalty. This is not making any sense. So Im out in the cold if I did not sign the addendum. Can I bring a complaint to anyone on this
From what you have told me so far, you need to consult an attorney, as I cannot give legal advice. Also, I do not know the time line, and I have not seen the agreement, which is important for me to give you an accurate answer.
However, because time appears to be an issue and based ONLY on what you have indicated in your note I can provide some basic information:
1. Buyerís agent can open the escrow with the agreed escrow company.
2. Buyer can also open escrow with the agreed escrow company.
3. Normally, once an agreement has been executed by both parties, and as long as the buyer stays within the terms (performance) of the agreement, it is the sellerís responsibility to perform as well. If the seller causes a financial burden on the buyer by not performing, it MAY be the sellerís responsibility to compensate the buyer for loss. However, if the buyer causes a financial burden on the seller the buyer MAY be responsible to compensate the seller.
Although all of these issues that you are having MAY be caused by either the seller or your buyerís agent, the process to be compensated can be more expensive with legal actions. So, before you decide to utilize the legal system, I would suggest you try to solve the problem by contacting your buyers agentís broker (his boss/your broker) and find out what your broker can do to solve any problems that you are having.
Because I am not directly involved with this agreement I can only give you basic terms and possible solutions. I only know your side of the issue and there may be other circumstances that may or will affect the outcome.
I am sorry I cannot write a 100% accurate solution without seeing the agreement, but my licensing does not allow me view the agreement unless I represent you or you hire me as a consultant, which would require a written agreement. This is not a solicitation, and your best advice would be from a real estate attorney.
I would appreciate it if you would take the time to provide positive feedback.
All my best and good luck,