Posted by dealmaker on June 09, 2008 at 06:04:13:
You write about “terminating” your contract with the Realtor. There are two parties to a contract and you can’t unilaterally terminate it.
If you mean “wait 30 days after the expiration of the contract”, then no, once the contract is over, it’s over. Although if the investor viewed the property during the listing period you may have a problem there.
dealmaker
Real Estate Law and Investors - Posted by Chrissy
Posted by Chrissy on June 08, 2008 at 10:56:39:
My question is this, I currently have my home on the market with a real estate agent. I have found an investor who may be interested in my home. Legally do I have to wait the thirty days after I terminate my real estate agent before I can sell my property to the investors? The investors dont feel I do but none of us are 100% sure, but not being completely sure I am unsure and dont want to make any bad moves on my part.
Your state Law - Posted by John Merchant
Posted by John Merchant on June 09, 2008 at 07:56:53:
There will be case law (court decisions) in your state on this issue so you need to either brief the legal point yourself, or if you don’t know how, then hire a lawyer who can.
It’d be unwise to proceed without your knowing the law and what your rights (and the listing agent/broker’s rights)are.
One thing I’d bet you: It’s come up before in your state so there will be a court decision or so on the point.
Hmmm, I just thought about this - Posted by dealmaker
Posted by dealmaker on June 09, 2008 at 06:05:54:
If your property is priced to the point that it’s interesting “investors” it’s got to be so low that retial buyers are falling over themselves writing offers. Something doesn’t smell right with this “investor”.
dealmaker