My parents signed a contract to purchase a home, now our realtor has disappeared a week before the closing?

Question

In mid-December of 2017, my parents signed a contract for an agreed upon price that the seller accepted.  My parents paid money for the inspection and then moved on to the appraisal.  Their agent said that after receipt of the appraisal, they would be in touch to finalize the closing.  It's been almost two weeks after the appraisal and their agent won't answer emails or phone calls.  In addition, my parents had to break their lease from their current apartment in order to get the lender's approval to finalize the loan.  In total, about $4,000 was spent on the inspection, good-faith deposit and breaking of the lease.    We suspect either there is an issue with the property (lien, etc.) or that the sellers' agent is also from the same firm as our buyer's agent and they secretly took a higher offer, after we signed the contract.  At this point, we just want to get the $4,000 back but if our agent has disappeared, is the only way to find a lawyer to settle this matter?

David Soble · Answer

Sorry to learn of your circumstances.  Your narrative requires you to sit with a real estate attorney and review the documentation.  Unfortunately, there are unscrupulous sales agents but hopefully there is a better explanation.  It is very unusual that a salesperson fails to remain engaged as they are motivated to earn commission on the transaction.    If you suspect there are reasons for the transaction not moving forward, an agent must have your permission to cancel instead of moving forward without you. To investigate further and to ensure that you are represented properly, contact an attorney.   I would also suggest reading this article: https://www.provenresource.com/potentialconflicts

Q: My parents signed a contract to purchase a home, now our realtor has disappeared a week before the closing?