- Joined
- Sep 5, 2007
- Messages
- 108
The full scenario:
The year was 2007. We used to live in a duplex. We were buying a new house with the plan of selling the duplex and use its profit as down payment for the new one. The builder, Reid-Built, has some kind of tie-up with Dynateam Realtors that agreed to sell my duplex for such a purpose. But what happened was, I didn't need to sell my duplex because the mortgage company didn't need any more money from the sale. That means, the Dynateam realtor didn't have to sell my house. With the loss of his commission from what he was expecting from the sale of the duplex, he filed a caveat against the title of my duplex. Up till now, 2011, the caveat is still there. Is this even legal? Up till when should, could, would that caveat be on my property. Am I obligated to give him commission for a job he didn't do?
What should I do about it? Even when I have to refi the property, I would need the realtor's permission because of that caveat. Isn't that funny?
Any input on this situation is highly appreciated. Thanks in advance.
The year was 2007. We used to live in a duplex. We were buying a new house with the plan of selling the duplex and use its profit as down payment for the new one. The builder, Reid-Built, has some kind of tie-up with Dynateam Realtors that agreed to sell my duplex for such a purpose. But what happened was, I didn't need to sell my duplex because the mortgage company didn't need any more money from the sale. That means, the Dynateam realtor didn't have to sell my house. With the loss of his commission from what he was expecting from the sale of the duplex, he filed a caveat against the title of my duplex. Up till now, 2011, the caveat is still there. Is this even legal? Up till when should, could, would that caveat be on my property. Am I obligated to give him commission for a job he didn't do?
What should I do about it? Even when I have to refi the property, I would need the realtor's permission because of that caveat. Isn't that funny?
Any input on this situation is highly appreciated. Thanks in advance.