On a option deal can I list it with a realtor even if I do not own the property, but have a option on it. Thanks :help
That’s a possibility. If you have it in the option agreement or
an attached disclosure, and record an affidavit, I don’t see a
problem with it.
Also, take into consideration your local Real Estate Commission
as I know quite a few of them will not allow you to list a property
that you do not “OWN” outright.
I’ve never listed a property straight out with an agent, but have
listed many properties that I have had on an option and P&S
agreement on a flat fee listing just to get it on the MLS…
What is your intention? Why are you wanting to list the property
with an agent?
Just to try and sell it faster. I have enough equity to give a commission/
I would say you could set yourself up for a big lawsuit if you listed it and didn’t own it. The reason being is if someone bought it and you couldn’t give them the title for some reason. I don’t think the MLS would allow it anyhow. I know if I was an agent I wouldn’t touch it.
Good luck,
donrock
If you have an interest in the property and you go
through the proper procedures of recording your
interest at the court house, you shouldn’t have any
problems if you want to go that route.
I would probably recommend you simply do a flat
fee listing, but that is up to you and your specific
situation…
I agree. If you have equitable interest you can list it.
You can list the property if you have a duly recorded purchase on the property!
Any recorded purchase - Conventional, Wrap, Subject Too, Land Contract, Contract for Deed. Any recorded purchase type transaction that is duly recorded in your county recorders office!
You can not list the property in your name if you only have an option to purchase! YOU DO NOT OWN THE PROPERTY YET!
It is illegal by both state and federal law to list a property you do not own!
It is illegal by both state and federal law to list a property you do not own!Please cite the specific laws you're referring to. How can it possibly be illegal to LIST a property you don't own, when it's perfectly legal to SELL a property you don't own?
If I knew what state your in I could go pull the specific state code and statute dealing with owner listings through licensed realtors, Brokers or agencies.
You can market any property as long as you don’t list it with a real estate agency.
Newspapers, websites, banners, signs, billboards, flyers, balloons, sign carrying clowns, craigs list, your local real estate investor assn, etc.
You must be the legal owner and hold legally recorded title to a property in order to list it for sale through a State Licensed Agency (ReMax, Century 21, etc.) managed and operated by a State Licensed Broker and employing State Licensed Realtors.
This is the Law and it is supported by Federal and State statutes.
Call your State Real Estate Commission or Your State Attorney General for specifics on the statutes and section of the state code!
Gold River – I sent you a PM
You must have Full right of assignment and the contract must state that the owner allows you to sell, lease, rent, etc…