MY FATHER DIED AND LEFT US KIDS PROPERTY. MY SISTER WAS THE TRUSTEE AND PUT THE PROPERTIES UP FOR SALE . THEN SHE QUIT CLAIM DEEDED THE HOUSES TO US INDIVIDUALLY. SINCE THIS IS NOW MY PROPERTY AND I DIDNT SIGN ANY PAPERS WITH THE REAL ESTATE AGENT AM I FREE TO SELL BY QUIT CLAIM DEED WITHOUT THE AGENT SINCE I DID NOT SIGN ANY CONTRACTS WITH THE AGENT???????
2006-09-06 14:35:10 · 3 answers · asked by sweetbaker2003 1 in Business & Finance ➔ Renting & Real Estate
My guess is: yes, you are. Your sister is the one that broke the contract with the listing agent, not you.
But...the agent could probably take legal action against your sister for breaking the contract. I'm sure this would not make for a happy family situation, and probably isn't worth it. Find out how long the listing agreement she signed with the agent is for. You could always sell the property on your own after the contract expires.
Second...it may be in your best interest to sell the property with a real estate agent. A good real estate agent is very valuable when it comes to negotiating a purchase agreement, completing the title work and (most importantly) marketing your property. Also, there are statistics that show that most For Sale By Owner or FSBO properties sell for less money than what they are worth. Also, most FSBO's fail and eventually list the property with a Realtor anyway.
Just a few things to think about.
Best of luck.
2006-09-06 14:49:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well let's see. If your sister was the trustee she has the power to do what is best for the estate. What I don't understand is why she would cause a contract to exist between the estate and the realtor by listing the property and then Quitclaiming the interest in these listed properties to each kid. If you knew that a listing contract existed at the time the property was deeded to you I think you might inheret that contract however that is an issue of what kind of disclosure on that issue was made at the time of the conveyance, not only to the kids but to the realtor. Reason being is that if the realtor brings an offer for signature to the seller they can not go to the estate they have to go to the property owner to get a signature and you don't have to sell. By quitclaiming the property there is a good chance that a dingbat realtor would claim that a sale has occurred and they are owed their commission. Man what a mess. Talk to the estate attorney that did the probate.
2006-09-06 14:50:48 · answer #2 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
If you own it, you can sell it with or without an agent. An agent can get more money for you than you can get on your own. If that weren't the case, they wouldn't be in business.
2006-09-06 14:42:44 · answer #3 · answered by nospamcwt 5 · 0⤊ 0⤋