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Old 10-10-2006, 08:11 PM
Ed Garces Ed Garces is offline
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Join Date: Aug 2005
Location: Maui
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Call the local Real Estate Board too. They will probably tell you that you have no obligation to any listing contracts signed by your mother. I take it that the title of the property would be on your name already so it's a brand new ball game. In so far as the original listing Agent advising you that she has an "interested party", she could well be fishing to see if you are going to re-list the property. Like any prudent professional salesperson, she would have flagged you for a follow-up call sometime back.

If she is serious about a buyer, you do not have to re-list the property with her to sell to her client. Just tell her to bring the offer (we call it D.R.O.A.) to you, assuming of course that you do want to sell the property. If she is honest, her client would likely request for another viewing of the house or she will bring you a fully documented offer with earnest money deposit and she would go over the details with you like any other Real Estate professional. At that point you can either sign or reject the offer, or determine that it's all BS (in which case, don't ever deal with that Realtor again!). If you decide to accept the offer, remember that she is representing the buyer's interest, not you, and her loyalty is to the buyer even though you would be paying the comission. Remember, buyers woud like to buy "low"......My advice would be to tell her that you would call her back the following day for your decision. If a buyer wants your property, they will wait! This will give you the time to consult with your attorney, or realtor friends.

At any rate, YOU would decide how much you pay her and this would be clearly defined in the offer. Usually the Realtor would ask for 1/2 of the regular Listing commission rate.

Last edited by Ed Garces; 10-10-2006 at 08:51 PM.
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