Q: House Sale dilemma
My mom is trying to sell her house located in maine. There is a buyer and a 3rd party that is going to get a finders fee of $50000 because house is under contract for $140000. When she signed the contract she was told the 3rd party was going to buy house for $90000 if a buyer wasnt found, but their only intentions were to hire the real estate agent and collect the money. The agent then told my mom it said in the contract she signed the house over to 3rd party to find the new buyer.
The 3rd party kept saying they didnt have funds. Then she (mom) was told they would use funds from sale. Then it was the 3rd party was getting money for finding the buyers. What can she do, she didnt know what she was signing.
A: Generally speaking, the terms of the agreement will govern, and it is impossible for me to answer your question without reviewing the agreement. That said, if your mother is age 60 or older, she is an elder and elders have certain protections under state and federal law. You should consult with an experienced real estate/elder law attorney.
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