Do Real Estate agents have to make all offers known to vendors?

Question

In an example, I I make it known to the agent that I am interested in a property that is for sale and that property is already under contract and that sales does not go through, is the agent leagally obliged to inform the vendor of my interest or can they just immediately accept an offer from another party?

Answer 1

sounds like all you have is a verbal which is a no no for statue of frauds so under a verbal the agent does not have to inform the seller

if you want to be serious even though its under contract make a written offer

Answer 2

Your offer must be shown to the seller and will be considered as a "back up offer."
If the deal with the first buyer doesn't go through, which happens all the time, you'll have a chance.
If the seller, being under contract, likes your offer better and somehow gets out of the contract and takes your offer, it's not your problem. It's the problem between the seller and the first buyer, but you need to make sure the seller is legally out of that contract. You don't want to get into a mess, when the first buyer takes the seller to court.

Answer 3

Your offer can be shown to the seller, but he cannot get out of the contract they are in or they will be in court. If for some reason, the contract does not go through, due to the buyer not qualifying for a loan, or the house fails an inspection, then they can entertain other offers.

I used to be an agent years ago. And I've bought and sold a number of homes since.

Answer 4

There is no obligation for a real estate agent to inform a seller of your interest. The proper way for you to inform the seller of your interest is to tender an offer to purchase for the property. If you don't put your wishes in the form of an offer, you're not going to get anywhere.

And an agent isn't going to call you to ask you to put in an offer if another person is right there, ready to do the same.

Answer 5

i'm biased, I admit that up the front: If all of this is fairly precise...and also you undergo in concepts that previous pastime the position someone whispers a secret and then it comes out all humorous on the different end of the course? nicely anybody can sue anybody for some thing and the evidence is contained in the understanding. the position is the evidence that anybody knew all of this? Is there someone who has some thing in writing or who's keen to bypass to courtroom to assert that the Realtor and the lender were mendacity? Is it someone who has a recognition of telling the fact? A REALTOR has to stay to a Nationally suggested Code of Ethics and preserving the regular public is a few thing the state genuine resources fee takes heavily in each state. most of the state genuine resources regulations are written around the REALTOR Code of ethics. definite there are those who've problems with telling the fact yet, they don't frequently get very some distance or very last very lengthy contained in the corporate. i'm hoping you haven't run into one in all them.___________ to respond to the questions: in the adventure that they knew then they are sure to inform, (honesty and fairness) so change into the dealer who knew it fantastic! What about a rehab or does that fall lower than demolition? i comprehend in some cities in case you save one unique wall or the putting out position and rebuild ninety 9% of the domicile this is taken into consideration a rehab. It actually sounds like someone needs an lawyer! therefore!

Answer 6

What vendor are you talking about?

A real estate agent is obligated to present all offers to the seller, even if it's ridiculous. My license was in Missouri, but I would assume it's pretty much the same everywhere in the US.

Answer 7

No, the law states that the agent must present all offers however this does not mean the agent has to WRITE the offer for you.

If you tell your agent to present an offer he is not obligated to write it. However if you present it to him IN WRITING then at that time he is obligated to deliver and present it.

Sometimes agents get silly frivilous offers and its not worth the agents time to present it as the buyers are just trying to steal the house. In times like that its not uncommon for an agent to say "Well I'm not going to write up an offer like that" but if you really want him to do it you the buyer must write it up and then deliver it to the agent.

On the other hand if the offer was reasonable and possible the agent would jump at the chance to write it.

The contracts of today are a pain to write. They are 6 pages long with tons of slots to write info in. They also cost an arm and a leg to buy so the agents don't want to waste them.