My husband and I signed an exclusive listing agreement under duress. We were blessed with a beautiful baby boy, just moved to a new home, a 7 day a week 24 hour day business a 10 unit apartment rental. We haven't sold our old home yet and we got into a financial bind.
I had postpartum depression and the stress for both of us was overwelming. My husband call a realtor that was referred to him by a friend and my husband brought home this agent and we signed a listing agreement under duress. I didn't want to sign, I told the agent how tough it was for us, but this was not the right move.
He completely ignored what I said and told my husband that with the profit from rentals, we could buy a bigger investment. Is this what you tell a man who as anyone can see was stressed? He had a hard time as it is handling all our responsibilities without my help. A bigger investment would be crazy.
Selling the properties was wrong and the agent knew and I said I am 110% against this. Well, of course he didn't care to listen to me because it wouldn't put money in his pocket. Well, he never advertised the property, not one cent spent.
He did however bring a friend 4 months later who also is a real estate broker and gave us a contract for full price sight unseen with zero down payment. Needless to say that all 3 contracts came in with the wrong description even though i did correct it on the 2nd contract. The real decription is 10 unit apartments. Consisting of 4 units in one building and 6 units in the other with only 2 deeds to sell. One for each building.
Well, their description was 10 condominiums and 10 deeds and assignable which both agents knew would be unacceptable and we would not sign. After 2 court hearings and a trial. The way the exclusive listing agreement is written, as long as there is a buyer who is willing to buy the property for the $ amount listing and can financially able.
It is called ready, willing and able buyer. Can I buy a car from you and ask you for 2 titles? Our arguement was we couldn't sell what we don't own. It didn't matter to the Judge! No advertisment, the buyer who didn't disclose that he was also a broker and owner of the company co-broking on the 2nd contract.
Removal from the Florida Board of Realtors on the same day he signed the 1st contract, so he wouldn't be violating an ethic code. Nothing mattered. We told this judge this was a scam and he didn't care. I had a mini-stroke 3 weeks after signing the agreement because I was so made with this agent. I couldn't believe he did this to us.
My husband and I now are in a depressive state. We have a lovely boy after 8 years of trying to have a baby. He will now be 2 years old. We have been in misery for almost 2 years. We have a judgment against us for over$53,000.00 not including our attorney fees and we have appealed with a new attorney. The agent threatened us several times right from the beginning. We have letters to prove it.
He stated, you don't have to sell if you don't want to, however, you will be obligated to pay the commission as stated in the listing agreement, $35,340.00. Now you know why I had a stroke. Health is not important or postpartum, depression or signing under duress.in the judges eyes, it is more important to pay! I hope there would be someone with the state attorney office who would step up and help. Police didn't help either. Not spending a penny in advertising, isn't there something wrong here?
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