Legal Question in Real Estate Law in Pennsylvania

A "realtor" asked me to sign an assignment agreement for a contract to purchase a home. She told me the house was under an agreement between her and the owner to buy for 15k and offered to sell me the contract for $3500.

When she gave me the assignment agreement and a copy of the original contract between her and the owner, the owners signature was not on it, However the assignment agreement to give her $3500 for the contract was irrevocably binding.

I believed she had the house under contract but now Im not sure if the contract she supposedly had with the seller was even real. Had I signed the assignment agreement I am sure she would have demanded the fee of $3500.

Is this legal? While online I found the term "Conspiracy to Defraud" could this situation be considered as such?

I feel very vulnerable and betrayed even if i wasn't naive enough to sign the deal.

Please help.

Sincerely,

Curious


Asked on 6/10/10, 5:44 pm

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

You should always get your own attorney to review such agreements before you sign them. The attorney will advise you of whether the agreement looks viable and would be binding on you and the other party. Attorneys will also advise and negotiate changes and additions on your behalf that a Realtor would not be permitted to make, since the Realtor is not an attorney.

When you are entering a transaction directly with the Realtor, it sounds as if there may be a conflict of interest [the Realtor is working for herself and does not have your interest in mind, nor is she required to, unless she says she is also acting as your Realtor. In that case, there really is a conflict of interest, and you definitely should have your own independent representation.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 6/10/10, 9:20 pm


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