So I found a property on craigslist in WA state offering lease-option terms. The ad is posted by a private investor (no RE license) with the owner’s permission. It turns out that the owner is a licensed RE broker in WA and he/she has also listed the property on the MLS. The craigslist ad contains only the private investor’s contact info (not the owner’s) and does not disclose that the property is currently owned (and listed) by a licensed real estate broker. Can someone with WA state-specific knowledge please comment on the ethics and/or legality of this arrangement?
How does this effect you, one way, or another? I’m curious. It’s either a deal you like, and want to close on, or it’s not.
Otherwise, to quote Hillary Clinton, “What difference does it make?”
Meantime seriously, are you really going to spend time farting around, trying to “Barney Fife” this guy, for not telling you the owner is a real estate agent?
Just curious that’s all. As for the deal itself, it looks decent pending the completion of my due diligence.
I like the ‘farting around’ and quote from Clinton in the same message…good job…and entertaining!
As for the deal, the agent would be obligated to that disclosure if it were the agent doing the marketing of the property…however, with the investor marketing…this is the same kind of thing as an option…so if he/she is an investor who is not licensed, he/she would not be required to a real estate license disclosure.
Hope this helps.
Rob in Atlanta