Offer on house for sale with real estate rejected now for sale by owner

[suziebr]

I live in Mass and put an offer in on a home that was rejected 2 months ago. I then recently put in a higher offer after the owners lowered their price with real estate. That offer was also rejected. Today I saw that the owners have posted their home for sale by owner. Is there a legal waiting period we must wait before presenting another offer on our own? If the owners accept our offer, is there any law that could forbid us to take ownership? If so, is there any way around this? Thank youWhat is the name of your state (only U.S. law)?

 

[CraigFL]

When sellers sign a selling agreement with a real estate broker, there is usually a clause in the agreement that if they sell to someone who saw the house by that broker, that broker would still be owed the comission. It isn't forever but has a certain time limit. I'm sure the sellers would share this with you because the offer they would accept may depend on it. If there was a commission dispute, it would be between the sellers and their broker. No (contract)law would affect you, unless you hired a buyer's broker.

 

[suziebr]

Thanks CraigFL

I have a realtor that I saw the home with and posted the offers through. I plan on giving him some money for his troubles. As long as I know that this can't come against me, I'll go for it. Thanks again.

 

[suziebr]

Answer from a Realtor friend in Mass.

Was just told by a friend that the seller signs a contract when listing with real estate. Within the contract is most always something called a tail. The tail will stipulate a certain time period that if the property sells after the contract expires while the seller is listing it on their own, then the seller is are liable in paying a commission to the original realtor within that specified time period. The only way out is if the seller lists with another realtor and the property sells.

 

[HomeGuru]

I live in Mass and put an offer in on a home that was rejected 2 months ago. I then recently put in a higher offer after the owners lowered their price with real estate. That offer was also rejected. Today I saw that the owners have posted their home for sale by owner. Is there a legal waiting period we must wait before presenting another offer on our own? If the owners accept our offer, is there any law that could forbid us to take ownership? If so, is there any way around this? Thank youWhat is the name of your state (only U.S. law)?

**A: you could present your offer on your own at any time. But depending upon the circumstances, you may end up paying for a sales commission either through the seller on the listing side as a listing commission or through the cooperating broker side.
Also, your agent's broker may use the procurring cause issue to claim commission.