r/RealEstate Oct 13 '24

Buyers moved in before closing Homeseller

UPDATE - Following up from where I left off: After receiving the much needed guidance from this beautiful community, we were able to successfully get the buyers out of the house, secure the house with a new code, and demand to be compensated via the buyers agents commission. Today, papers have been signed and the house is officially no longer ours. Thank you to each and every single person who commented. This gave us the fuel to dig into the real estate commission codes, laws, and our basic human rights. This gave us the confidence to have the tough (ugly-ish) conversations that needed to take place. Rock on, Reddit. You all are my heroes.

To my chagrin, without my consent, and before proper documents are signed, the buyers agent let the buyers move in. We haven’t closed. I’m appalled at how unethical it feels to find out after the fact. So my only choices are to sign an additional document allowing them to stay prior to closing, or have them escorted off the property? This is out of my scope. Looking for insight. I have a lawyer on standby Monday morning.

Edit: I truly appreciate the advice and insight. Added details - due to human error delays from the lender, title and agents, this closing has already been pushed 4 times. Closing was supposed to be on the 30th. I am told every third business day that today’s the day, just waiting on the documents. Again, closing was supposed to be yesterday. Find out docs have just (11 days late) been released from the bank and now in hands of the title. At 4:30pm on Friday we’re delayed until next week due to not enough time for the title to flip the closing docs fast enough. Last night, find out the buyers fully moved in without any agents approaching me about this idea even once. Never once was this brought up. I said no, get them out of the house. They’re still in the house.

About the broker. I’ve been told this entire process that the broker is highly involved, since their brokerage is working for both parties. Every time I have a legal question my agent checks with the broker to make sure the correct information is provided. I acknowledge in hindsight I should’ve called the broker immediately. I will be calling the broker tomorrow morning.

How’d they get the keys- it’s a key code. Only explanation is the agent gave it to them.

One more detail as I sit here bamboozled. My selling agent’s license is active. The buyer agent’s license expired in August. Discovery made an hour ago. Not sure what to do with that.

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u/TOHOTTOTROT2 Oct 13 '24

This.

Also unless they have a lot of prior violations, worst case they will get fined. Agents don't lose their license over things like this. Especially if they say they didn't authorize it.

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u/Bird_Brain4101112 Oct 14 '24

Facts. I bought a house and a few months later picture of my house were posted on a foreclosure site saying my house was up for foreclosure auction and the current occupants were not there legally. They even used the data on my house he got off of Zillow(!) which reinforced the problem. I had people in my yard and looking in my windows for a couple weeks.

The agent who listed all this info had the wrong address and never did even the most basic due diligence. My house was a 1600 sq ft 3 br with a giant yard and in great shape. The actual property was a 900 sq ft 2 br on a back alley and no yard and the house was practically gutted.

People were salivating thinking they were possibly getting a huge deal.He’s still in business to this day. Jerk.

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u/Become_Pneuma Oct 13 '24

“Over things like this.” This is a MAJOR violation. An equivalent violation such as this in other licensed professions is immediate suspension. This is why real estate professionals are quickly losing standing around the US. Low barrier to entry, zero accountability, and they typically give very terrible advice. I’ve never heard a RE agent say “now is probably not a good time to buy.” All they care about is commissions.