I have signed a realestate contract with a agent to sell my house i have a 3rd party that wants to buy my house can i take his offer or am i committed to the agent and let my house get auctioned off?
2007-08-05 08:31:31 · 5 answers · asked by jason m 1 in Business & Finance ➔ Renting & Real Estate
If you are in foreclosure, and if you have a real estate contract with an "agent" (listing broker?), and if you are negotiating directly with a potential buyer -- you have major legal issues that cannot be answered on Yahoo Answers. We do not have the documents, do not have all the details and (even if we did) could not give you legal advice.
Therefore, you MUST contact a competent attorney immediately. Have a consultation on Monday morning -- and bring _ALL_ your contracts, foreclosure notices and other documents.
You need LOTS of help.
Good Luck!
2007-08-05 08:42:22 · answer #1 · answered by Tim F 5 · 1⤊ 0⤋
You can sell your house to the third party, but, assuming you signed a listing contract with your agent, the agent will be due a commission upon the closing of the property. Very few real estate listing contracts allow you to find your own buyer without including the agency in the commission, even if you find the buyer on your own.
2007-08-05 15:39:22 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
I am a real estate broker/salesperson in Florida who has been licensed since 1984 in Missouri and Florida. --The answer to your questions is "it depends". If you signed an exclusive right to sell listing agreement, any buyer must go through the agent. In your situation, you probably will need the agent to get involved to give you a buffer in the THREE way negotiations. Your bank, at this point, will probably need to agree to the sale. There is the possibility that they may take less than you owe on the house and free you of any liability at the same time. You will need to talk frankly to your agent, and he can help you through this. Ruth
2007-08-05 15:58:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depends on what type of contract you signed. If you signed an exclusive contract then it has to go thru your agent.
Why don't you just bring the buyer to your agent? IF you are in foreclosure, why would you put yourself in the position to get sued.
Read your contract, it states if you have to deal with the agent. Usually it is 90 days.
Let your agent do it. Don't let your house foreclose to save you a few thousand dollars.
Just my opinion.
2007-08-05 15:39:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Are you selling your house or getting it foreclosed on? Your post isn't very clear as to what you are doing.
Can you provide more details please?
2007-08-05 16:06:55 · answer #5 · answered by Expert8675309 7 · 0⤊ 0⤋