Hi. Just curious about the rules surrounding this.
I have a friend who is selling there house through a real estate agency. The contract has a date for the contract to go unconditional, but this has been extended twice because of problems with the buyer selling there house. It now looks like it will be around 3 months before they sell there huse, and are in a position to buy my friends house.
The agency has been a shocker, to the point of bordering illegality and my friend wants out of the contract. My opinion is that no more extension be granted on the real estate S & P contract, let it die as the unconditional timeframe cannot be met (to my mind, they arent a buyer, they dont have the cash).
Can the S&P be canned because of this?
Part 2 - the buyer is still keen to buy my friends house. My friend is in no hurry to sell and can wait for 3+ months before selling again. I feel she can just sell the house privately to the same buyer.
My question is this: Is there any timeframe after a real estate S&P is cancelled, that a seller can resell there house to the same potential buyer? Is there a standdown period? I feel that if the S&P contract with the real estate agency is canned, then they're out of it and have no say in who I sell too, regardless of whether they were a potential with them or not.
Comments please.
I have a friend who is selling there house through a real estate agency. The contract has a date for the contract to go unconditional, but this has been extended twice because of problems with the buyer selling there house. It now looks like it will be around 3 months before they sell there huse, and are in a position to buy my friends house.
The agency has been a shocker, to the point of bordering illegality and my friend wants out of the contract. My opinion is that no more extension be granted on the real estate S & P contract, let it die as the unconditional timeframe cannot be met (to my mind, they arent a buyer, they dont have the cash).
Can the S&P be canned because of this?
Part 2 - the buyer is still keen to buy my friends house. My friend is in no hurry to sell and can wait for 3+ months before selling again. I feel she can just sell the house privately to the same buyer.
My question is this: Is there any timeframe after a real estate S&P is cancelled, that a seller can resell there house to the same potential buyer? Is there a standdown period? I feel that if the S&P contract with the real estate agency is canned, then they're out of it and have no say in who I sell too, regardless of whether they were a potential with them or not.
Comments please.
Comment