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    1. B

      cancelation of purchase agreement, can they back out?

      Boy, I hate to throw a wrench into the works. If the property is listed with a Realtor, that doesn't guarantee that the property will be in the MLS. Our MLS rules say that single family residences, listed in the county of membership, and listed on an exclusive right to sell listing have to...
    2. B

      is this legal?

      Thanks.
    3. B

      The seller who wouldn't leave....not into 3somes..

      A FSBO making a marketing error? Nah, couldn't be. Everyone knows that Realtors don't really do anything, or have any real skills.
    4. B

      My realtor did not accept my offer !

      The Realtor is not obligated to write any offer you want. That is a myth. However, you are free to find another Real Estate Agent to write your offer. Now that you've signed, you are stuck with what you agreed to. Did you sign an agency disclosure? Who does your agent work for? That...
    5. B

      cancelation of purchase agreement, can they back out?

      Sioux has a valid point. If I have a buyer, and in the MLS a property is marked as having a pending sale, I will not let my buyer know about this property until such time as it is changed to active and available. Too many times I wasted my time showing buyers houses that have pending sales...
    6. B

      Recourse on Buyer Default

      What you can do legally, and what you can do to simplify and make this problem go away, are often very different. An escrow deposit is to be taken at the time the buyer makes a Purchase Agreement. If there is no escrow deposit, then you should have been notified of this no more than 1 or 2...
    7. B

      backing out of a contract?

      I would agree with HomeGuru, and have an attorney review the contract. Then I would simply let the Agent know that based on the incorrect information that was given to you during the negotiation of the contract, you want to cancel, and expect a full return of your deposit. If this agent...
    8. B

      cancel contract with realtor

      Just to clear something up. It's common practice in my town, and it's a requirement in my office that when a listing is taken, pre-order of title insurance is submitted. This would be a quick pre-search and solves a lot of problems. In many instances it shows all owners and required...
    9. B

      is this legal?

      What if you really intend on purchasing this new property for yourself, and leasing your daughter your old home? Then the next day after the closing, the daughter says she hates living in the old house, and so you change your mind? Can it be proven beyond a shadow of a doubt that you hadn't...
    10. B

      closing

      Right of recission The right of recission only applies on a refinance, and even then it still has limitations. If this is a new purchase mortgage, the 3 day right of recission does not apply, and the closing agent at the title company made an error. At any rate, the seller never has a right...
    11. B

      Explanation of terms please

      In general, the agency disclosure form, tells you about who represents who. There was a real problem in the Real Estate industry because many many buyers believed that the agent represented them, when in fact they were agents of the seller. This was such a problem that the agency disclosure...
    12. B

      all in the family

      Who so ever has the authority to sell the property must sign in order for that listing agreement to be enforceable. Whether it's 2 people or 20 people.
    13. B

      Anyone know how to handle this?

      What is the name of your state? Michigan I've got a creditor that was included in a Bankruptcy 10 years ago. This creditor is reporting the collection as a zero balance, but prior to the 7 years, they changed the date of the "last activity" on the account to 8/2000. This means it will...
    14. B

      all in the family

      Assuming that there is no agreement giving that person the power to sell, then he does not have the ability to sell without your permission. The Real Estate Agent involved basically has a worthless listing. Not only do you not have to agree to sell, but you also have not agreed to pay a...
    15. B

      no listing agreement

      Just re-read my post. Didn't mean to sound as if I was correcting HomeGuru, he is 100% correct. You simply need to decide if you want their buyer. If you do, pay the commission. Case closed. You should feel lucky. If I were the Real Estate Agent in this scenario, and you wanted to...
    16. B

      no listing agreement

      You're missing the point. The Real Estate Company is negotiating. Refusing to negotiate is an avenue of negotiation. It's called "Playing Hardball". Forget about the commission problem. Is the offer good enough for you even after you pay the whole commission? If yes, sell If no...
    17. B

      no listing agreement

      I had that feeling also. Technically they don't have to pay a commission, the only problem is, they still want the buyer, but they don't want to pay.
    18. B

      Seller cancelled deal at closing day

      Getting your deposit back shouldn't be a problem. All that vacation stuff, and IRA loss business, you may as well forget about.
    19. B

      closing

      the problem is that you agreed to it earlier, and now you want to change your mind. HomeGuru is correct in saying you need to consult a professional to see if there is some way to get out of this contract. It will be next to impossible to force the seller to sell earlier, so what you're...
    20. B

      no listing agreement

      Is the amount you'll recieve after paying the higher commission an acceptable amount? If yes, sell. If no, don't.

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