• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

death of seller ,,is real estate contract binding to heirs

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

J

jodo99

Guest
What is the name of your state?
georgia my question is , i saw a house that was listed through a realestate agent. I called and was shown the house, liked it and gave a 1.000 dollar depostit down on it. the problem is that the people that had signed the agreement with the realestate agent to sell the house both had died. The childern of the owners of the house let the realestate people show the house after parents death. when the childern went to their lawer he said they couldnt sign the contract because the estate had not gone to probate court. Now the childern have taken house out of the realestate agents hands and still wish to sell the property but are waiting for estate to go through probate. The childern have contacted me and said that by eleminating the realestate agent we save 7% on the sale commission which we could split and them make more on sale of house and i save by price of house being lowered.. recently i received a copy of a letter addressed to the childern from the realestate agent company saying that they were released from there contract but that if i buy the property within one year from a certain date the 7% commission must be paid. my question is since the one that signed the orginal contract has died,,is the contract invalid,,can i legally buy the house after it has been through probate without having to pay the 7% commission and who would be responsible for the realestate commission if it had to be paid if i went ahead and bought the home within that year.
 


HomeGuru

Senior Member
jodo99 said:
What is the name of your state?
georgia my question is , i saw a house that was listed through a realestate agent. I called and was shown the house, liked it and gave a 1.000 dollar depostit down on it. the problem is that the people that had signed the agreement with the realestate agent to sell the house both had died. The childern of the owners of the house let the realestate people show the house after parents death. when the childern went to their lawer he said they couldnt sign the contract because the estate had not gone to probate court. Now the childern have taken house out of the realestate agents hands and still wish to sell the property but are waiting for estate to go through probate. The childern have contacted me and said that by eleminating the realestate agent we save 7% on the sale commission which we could split and them make more on sale of house and i save by price of house being lowered.. recently i received a copy of a letter addressed to the childern from the realestate agent company saying that they were released from there contract but that if i buy the property within one year from a certain date the 7% commission must be paid. my question is since the one that signed the orginal contract has died,,is the contract invalid,,can i legally buy the house after it has been through probate without having to pay the 7% commission and who would be responsible for the realestate commission if it had to be paid if i went ahead and bought the home within that year.
**A: no, your contract is valid and enforceable upon the estate. And the listing contract is also enforceable and commission is due because the offer was made at the time the listing contract was in force.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top