I am returning to real estate investment after a long lull, so still a little rusty.
There is an apartment building available that I am considering purchasing. I have had my eye on this property for years and found it listed in a local real estate magazine. Upon contacting the real estate office in the ad, I talked to an agent (not the “listing” agent) and received some basic paperwork on the property. That has been the extent of my contact with that agency.
In doing my basic research, it appears that this property’s listing has expired. As an aside, just let me say that I typically prefer not to work with agents just because so many have blown deals for me in the past. :banghead A lot of the information I got from the agent I spoke with conflicts with what is on the MLS sheet, which is what led me to start digging for facts.
The agent has not yet shown me the property nor met with me.
My question. If the listing has, in fact, expired, do I have any legal obligation to this agent? I tend to think that I do not, since they have no contractual arrangement with the seller. Besides preferring to deal directly with the out-of-state owner, this property is owned in its own corporation and I might want to pursue simply purchasing the corporation as opposed to buying the property and transferring ownership that way. I certainly don’t want the agent involved if that is the case. I also don’t want a last minute lawsuit from the agent claiming that it was because of their advertising and providing me information that the sale happened.
This is in North Carolina, if that makes a difference.
Thanks so much for your opinions.