Thread: is my real estate agent legally required to explain documents i'm signing?

hello...

Buy Property In Gurgaon At Cheap Cost...

Usually, real estate agents and realtors will offer an explanation about the contract if the customer asks about it. I have to admit that there are real estate agents who complacently thinks that an experienced customers has all the know how about the contract language. I would advise you to contact a real estate lawyer and ask if what the liability did the real estate agent had in your case.

Think about what the agent's threat is. She is going to sue you over $777.00 A lawyer will cost $7,000.00+- so that is not going to happen. She might take you to smalls claims court, but in there she will look like the greedy real estate agent trying to take advantage of an innocent consumer.

And in reality, she does not have the option to sue you. The agreement you signed was actually with her broker. So, it would have to be the broker who sues you. You might want to have a talk with her broker in charge. They might see things differently than she does because they want to protect the image of the company and this situation looks bad for a company.

Or, just let her huff and puff and eventually she will go away.

And don't forget to tell everyone you know about this agent and her company. Too many agents pull this scam where they get a buyer to sign an exclusive buyer agent agreement and then demand money after they don't do any work to earn it.

You should definitely seek legal advice since this is a legal question and every state and province will have different requirements.

That being said, generally if you sign something the courts tend to view it as a binding agreement and you can't say you didn't know what you signed.

I would agree with Greg that it will cost the agent more to go to court than they would win. However, I am not an attorney and I am not giving you legal advice.

The real cost to this agent is in the damage the agent is doing to their own reputation. I also agree that you should talk with the Broker in Charge. The Broker is probably not going to be happy about the agent behaving in this manner because it can hurt the company's reputation.

I suggest that you should consult a lawyer regarding the matter. Real estate agents generally have matters explained to customers and are usually bound by the agreement between the parties.

Never sign anything unless you fully understand it. A Realtor can read you the verbage and give a general overview, but we are not attorneys so cannot advise you legally. Personally I think it is bad taste for agents to have clients sign these unless there is a relationship established.

Main thing though is again do not sign anything without understanding it.

Originally Posted by timorous

i'm in this terrible pickle with a real estate agent who had me sign a buyer broker agreement w/o my knowing. had i known i had a buyer broker agreement with her i would have simply used her to purchase the property. i found another property on my own, made an offer, and it was accepted and now she's saying she's going to sue me for 3% (777 dollars of a 25,900 dollar purchase price).

see, the day that we signed documents on the property that i attempted to buy with her we reviewed nothing of what i was signing. this was my fault, partially, because i've been through so many real estate contracts that i got complacent. i know what's in the contracts. for some reason a buyer broker agreement got slipped in there unnoticed by me. i don't know how it happened.

in any case... what i need to know is, are agents legally required to fully explain what you are signing? she explained nothing to me. she insists that every document was explained but that wasn't the case. in fact, the whole signing process took less than 5 minutes. my girlfriend was there as a witness.

if such a law requiring her to explain these documents to me exists, do you know where i can find it?

In addition to what I've answered earlier, buyers also have the caveat and must review all documents before signing it.

Your help was invaluable!...I Appreciate all the time ad effort you devoted to helping me!