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Buying or Selling a Home/Buying privately after listing has expired
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Question
We looked at a house a couple of weeks ago that was listed with a realtor. We drove past it recently and after noticing that the for sale sign was no longer up, call the realtor who had showed it to us and asked if it had sold. She said that the listing had expired and the family was thinking about possibly putting it back up in a few months when the market seems a little better. Would we be breaking any rules to approach the family and make a private offer? We are planning on canvasing the area and dropping a note in the mailboxes of some of the houses that we may have a similar interest in. We just happen to know that this particular house was recently on the market.
Dear Rochelle;
The listing agreements usually include a clause that states something about the agent getting a commission if the home sells after the listing expires if the home is sold to someone who saw the listing during the time it was listed. There is usually a time limit on this like 60 or 90 days. So, you are free to make a private deal with the sellers, but keep in mind that they still owe a commission. After all, it is through the efforts of the agents that you saw the home to begin with.
Good luck and best wishes,
Jessica Bryan
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Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Jessica Bryan
Expertise
buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.
Experience
Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.
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