Recently, a builder tore down homes across the street from out home in Norcross , Ga. and is building 1 million dollar homes. We put our house up for sale with a realtor last week for 264,900. We immediately got an offer from another realtor. Would our realtor have to reveal to us any information in regards to the builder being interested in tearing down our home in the near future or could she sell it to someone perhaps knowing the builder will be doing this?
2007-03-03 15:49:33 · 9 answers · asked by tennis 2 in Business & Finance ➔ Renting & Real Estate
What difference should it make once you sell it ? Its the new owner's to do with as they please. Personally, I would have not sold it for another year or two. Soon there will be million dollar comps next door helping raise the value of a 1/4 million dollar house. I think you was foolish to sell at all. What happens next won't benefit you but can be a fast windfall for the new owner. If you would have been my real estate client I would have made you not sell it until the price reached 350,000 The new owner may get that within the year. Your agent might have farmed you as a scout for the builder as that is not all that unusual. You received bad advice in my opinion from your agent. If you just decided to sell and called an agent at random or from a referral then they have done their job. A friend in real estate should have informed you to hold out for a top dollar offer. If you was farmed and sold on a pitch stating "oooh that builder will ruin the block, let me get you sold while you still can" then it is likely you just got hoodwinked. A good agent would have told you theres great comps coming in, if you dont need to move then wait for 1 year and call me. That advice would have made you $100,000 more from an all cash, as is sale, guaranteed.
2007-03-03 19:39:40 · answer #1 · answered by Myron 4 · 3⤊ 1⤋
Oh yes, I had to tell the seller what I was going to do with everyone of the houses I purchased . . . NOT!!!
Realtors are acting as impartial conduits between parties. They are required to disclose all known information between the parties. Unless they are hired specifically by either the seller or the buyers, then they are required to disclose this to the other party.
If a Realtor is purchasing your house, they are required to disclose this, as they will be getting part of the broker's commission.
2007-03-03 16:46:04 · answer #2 · answered by A_Kansan 4 · 0⤊ 1⤋
First, it is YOUR house. YOU make the rules.
if the second realtor is buying it personally, and then will resale to the builder, she doesnt hve to tell you. If your realtor knows about it, and doesnt tell you, then she isnt looking out for you. I would tell her point blank, if this is going on, and she isnt tell you, and you have the opportunity to sell to the builder direct, and she knows it, you will be suing her.
You are afraid you wont get the full price, the realtor is either acting on behalf of the builder, or will sell to the builder. IF you want to sell, set your price and stick to it.
Good Luck
2007-03-03 15:55:40 · answer #3 · answered by batwanda 4 · 0⤊ 1⤋
A realtor can buy a house just like any other person. If they are willing to meet your price, what difference is it to you what they plan to do with the house?
That being said, your realtor is your agent and has a fiduciary responsibility to you. He would have to tell you what the propsective buyer tells him, but that is assuming the buyer tells your realtor anything. I think you might be jumping to conclusions.
2007-03-03 19:10:28 · answer #4 · answered by Anonymous · 0⤊ 1⤋
The Buyers realtor does not have to disclose ,to you the sellers (you), thier intentions during the sale.Did your Realtor do his job in getting you the best price? If so you should be happy.
2007-03-03 16:03:26 · answer #5 · answered by (A) 7 · 0⤊ 1⤋
I would say the realtor could do that. Contact The Real Eastate Council for information on subject.
2007-03-03 16:06:13 · answer #6 · answered by holly 7 · 0⤊ 1⤋
The only thing a real estate agent is legally required to disclose is that they are a licensed agent. In our investment property contracts we disclose that we are licensed agents/brokers in the business to make a profit. Seller beware. This language eliminates any confusion.
2007-03-07 04:46:50 · answer #7 · answered by Anonymous · 0⤊ 0⤋
No I have my home up for sale and they do not have to tell you this.
2007-03-03 16:00:47 · answer #8 · answered by Carlene W 5 · 0⤊ 0⤋
no I don,t think thats right
2007-03-03 18:55:54 · answer #9 · answered by pattibcacl 6 · 0⤊ 1⤋