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I'm selling my house with a "transactional" realtor. Unfortunately, perhaps, this realtor has never sold a house before and I hope is consulting with his broker. I have bought and sold houses many years ago, always with an experienced realtor. I know procedures and laws can change and vary from state to state. My realtor emailed me with an offer from a prospective buyer, complete with their additional contingencies (not on any real estate form). I'm not comfortable with this informality--shouldn't an offer be submitted by the buyer's realtor on the proper real estate form? Or is every thing verbal or by informal email until the offer/counteroffer phase is concluded and the seller is ready to accept the offer with contingencies and then at that point everything is formally written?
I'm selling my house with a "transactional" realtor. Unfortunately, perhaps, this realtor has never sold a house before and I hope is consulting with his broker. I have bought and sold houses many years ago, always with an experienced realtor. I know procedures and laws can change and vary from state to state. My realtor emailed me with an offer from a prospective buyer, complete with their additional contingencies (not on any real estate form). I'm not comfortable with this informality--shouldn't an offer be submitted by the buyer's realtor on the proper real estate form? Or is every thing verbal or by informal email until the offer/counteroffer phase is concluded and the seller is ready to accept the offer with contingencies and then at that point everything is formally written?
Not sure why things are being done this way unless it was only a verbal offer. Sometimes a potential buyers agent will ask to just run some something by the seller just to see if it is even worth writing. It is OK to do this, but your agent should make it clear to you that that is what it is. Just don't say yes at all until you see a written contract. Ask if there is one. I see a real problem with trying to iron out details ahead of time with nothing in writing. Read your contract carefully before you sign it.
I'm selling my house with a "transactional" realtor. Unfortunately, perhaps, this realtor has never sold a house before and I hope is consulting with his broker. I have bought and sold houses many years ago, always with an experienced realtor. I know procedures and laws can change and vary from state to state. My realtor emailed me with an offer from a prospective buyer, complete with their additional contingencies (not on any real estate form). I'm not comfortable with this informality--shouldn't an offer be submitted by the buyer's realtor on the proper real estate form? Or is every thing verbal or by informal email until the offer/counteroffer phase is concluded and the seller is ready to accept the offer with contingencies and then at that point everything is formally written?
You literally need to stop with this 'realtor'. I don't care if it is your best friend, or a sibling, or your boss at another job. They are going to cost you far more time and money than the 'good will' of using them is worth.
Location: Sarasota/ Bradenton - University Pkwy area
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It really depends on how things are handled in the state the property is located in. That being said, I personally would want all offers in writing, offers that include ALL of the contingencies the buyers want included in the contract. The listing contracts used in my office give buyers the option of checking a box that excludes all verbal offers. What does your listing agreement state about offers?
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