What is the name of your state? Virginia
A little background.
We had our house on the market during the summer and although we had offers, we didn't sell. We took the house off the market and the Realtor contract expired.
During the time the house was on the market, we had a few hundred people through the house, it was a zoo!
A few weeks ago an interested party had their realtor call ours to see if we were interested in selling even though we're not officially for sale. We decided we were willing to sell so we re-upped our realty agreement to go to the end of the month with the intention of closing a deal pretty quickly with this specific couple. We're waiting for the proposal from the interested party to come through the door this week.
Today a couple showed up at the house and asked us "out of the blue" since we didn't sell were we interested in selling. They'd seen the house during the summer at an open house but we not ready to buy. They are now wondering if we'd like to sell the house privately.
My inclination is to make them work through their own realtor and/or ours and do the proposals all above board, but I have to admit that 50k in realtors fees had me wondering if we by law HAVE to work through the realtor for this specific buyer since they approached us directly?
Yes they saw the house during an open-house when we were represented. That agreement expired but has been re-upped for a couple of weeks. Is there some legal obligation on their part, or mine, to work through the realtor since they saw it while it was open in the summer and now they came back it's represented again?
If they'd have come around two weeks ago we could have probably done a private deal, but I have a feeling we're obligated to use realtors now we have an representation agreement on the house again.
Having said all this, I do feel more comfortable working through the realtors even though it'll cost a lot of money. Mainly because they did work to sell the house and this couple saw it during that period initially, so ultimately it's only fair.
Anyway, advice welcomed.What is the name of your state?
A little background.
We had our house on the market during the summer and although we had offers, we didn't sell. We took the house off the market and the Realtor contract expired.
During the time the house was on the market, we had a few hundred people through the house, it was a zoo!
A few weeks ago an interested party had their realtor call ours to see if we were interested in selling even though we're not officially for sale. We decided we were willing to sell so we re-upped our realty agreement to go to the end of the month with the intention of closing a deal pretty quickly with this specific couple. We're waiting for the proposal from the interested party to come through the door this week.
Today a couple showed up at the house and asked us "out of the blue" since we didn't sell were we interested in selling. They'd seen the house during the summer at an open house but we not ready to buy. They are now wondering if we'd like to sell the house privately.
My inclination is to make them work through their own realtor and/or ours and do the proposals all above board, but I have to admit that 50k in realtors fees had me wondering if we by law HAVE to work through the realtor for this specific buyer since they approached us directly?
Yes they saw the house during an open-house when we were represented. That agreement expired but has been re-upped for a couple of weeks. Is there some legal obligation on their part, or mine, to work through the realtor since they saw it while it was open in the summer and now they came back it's represented again?
If they'd have come around two weeks ago we could have probably done a private deal, but I have a feeling we're obligated to use realtors now we have an representation agreement on the house again.
Having said all this, I do feel more comfortable working through the realtors even though it'll cost a lot of money. Mainly because they did work to sell the house and this couple saw it during that period initially, so ultimately it's only fair.
Anyway, advice welcomed.What is the name of your state?
