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If this deals go through, I wonder how this is counted in those statistics... Is this a full price sale?
I don't know how MLS does it, but they will pay NC tax stamps based on the closing price and that is what will be officially recorded as the price on the house. If you go to the Mecklenburg county real estate site, this is what will shown as the price on the house.
This of course doesn't catch the situation where the buyer and seller plays the game where the price is actually raised and then the seller gives the difference back at closing.
I don't see anything unethical, and I don't understand why you feel slighted.
Is it because you think the value of the house you are buying will decrease because of their changed listing price? The price you pay for the house is going on the public record anyway, changing the listing price isn't going to affect much imho.
Good question Mikey, but don't muddy the waters here and confuse BlueDiamond, lol!! That question really has nothing to do with her concern
I am very concerned about a realtor who would support their client in thinking that keeping a house in the MLS until close is "unethical". It is not at all unethical and is common practice.
Quote:
Originally Posted by anifani821
The way I understand it, the Seller just listed on REALTOR.COM. This would have nothing to do with MLS stats. The MLS system will show the listing price at time of contract and once it closes, the data will reflect the actual selling price.
You probably missed that the homeowner (not the real estate broker/agency) had simply done a back-up listing on Realtor.com.
oops! lol
Yeah, sorry I don't want to confuse this any more.
That's not true BlueDiamond! NOONE else can buy this house as long as you go thru with the contract. I am really concerned about the realtor you have hired - she/he is not giving you very good advice. These homeowners have done nothing unethical!
Since you love the house, and you need to move quickly this is really a nonissue, just show up at closing and the house is yours, for the $10,000 less than list price that YOU agree to
Hi LovesMountains,
Yes, someone can come in and knock us off the Board. This is contingent upon the sale of our house which takes place Monday. The issue is time: we do not have any left. So, if someone comes in and grabs this house we will not have a place to live.
And, our realtor did not want to call us with this information on our long journey home because she did not want to upset us! We are on things and found out by ourselves that this happened.
Thank you for all of your help. I will send you a DM.
This of course doesn't catch the situation where the buyer and seller plays the game where the price is actually raised and then the seller gives the difference back at closing.
Come on now - "seller concessions!" lol
I don't see this factored into the fancy CMA that an agent is supposed to do for you or an appraisal. A comp is a comp!
Yes, someone can come in and knock us off the Board. This is contingent upon the sale of our house which takes place Monday. The issue is time: we do not have any left. So, if someone comes in and grabs this house we will not have a place to live.
And, our realtor did not want to call us with this information on our long journey home because she did not want to upset us! We are on things and found out by ourselves that this happened.
Thank you for all of your help. I will send you a DM.
BlueD
Okay, you are not making sense, BLUEDIAMOND. Either you have an accepted contract or you don't. If you don't have an accepted contract, then the Seller would be DAMN DUMB to take the house off the market should the offer to buy have a contingency on it.
Please explain. You earlier said you had an accepted contract. Now you are indicating the offer has a contingency on it. Which is it?
Yes, someone can come in and knock us off the Board. This is contingent upon the sale of our house which takes place Monday. The issue is time: we do not have any left. So, if someone comes in and grabs this house we will not have a place to live.
And, our realtor did not want to call us with this information on our long journey home because she did not want to upset us! We are on things and found out by ourselves that this happened.
Thank you for all of your help. I will send you a DM.
BlueD
In that case Blue, the homeowners have STILL not done anything wrong or unethical!
The fact that you have a home to sell before you can close on this one is a bit of a red flag to the seller. They were just protecting themselves from losing any time on selling their home IN CASE your home sale fell thru.
But now that your home will sell/close on TOMORROW, it is very unlikely anyone will come in with an offer and "take the house away from you"
But again, this is common practice - ANY realtor worth their salt would have explained that to you - when a buyer has a home to sell and must make their next purchase contingent upon that sale, the seller ALWAYS keeps looking for other buyers - ALWAYS.
Okay, you are not making sense, BLUEDIAMOND. Either you have an accepted contract or you don't. If you don't have an accepted contract, then the Seller would be DAMN DUMB to take the house off the market should the offer to buy have a contingency on it.
Exactly. The seller should do everything they can to protect themselves should your house not sell and you not be able to complete the purchase. This is not unethical or immoral...it is sound, prudent business sense.
Thanks I Love Moutains, it was understood that the sellers were still going to show the house - but that it would indicate: Contingent. That was not a problem or an issue. The same rules applied to my house as well. What I had never seen before (and have checked with many agents that I know here) - they have never seen the price changed on the MLS for the agreed price that we agreed to pay for the house.
I can pull out of my contract at my existing house legally, because the seller's agent past the deadline on one of the issues. Heck, I might pull out wait a year.
I was never advised at any time that this could happen. And, since I never heard of this happening, I never knew it was a possiblity.
Thank you for the assist.
BlueD
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