Hi everyone,
When can I legally market a home for sale. I know I need equitable interest in the property, but does a mutual acceptance of a purchase and sale contract give me equitable interest? An option agreement will give me equitable interest, but can I list a property with a realtor if I have an option on it?
Thanks!
Yes, as long as your option contract states that you have the authority to list and market the property. You might want to have the home owner initial and sign the listing agreement also, however it is not necessary if the option contract clearly gives you the right.
Good Luck
it depends on what your option states you can do
I am no expert on this niche but I would tread lightly here. I don’t see that an option gives you equitable interest, but instead a contract interest.
My concern here is that with just a contract interest, marketing to sell the property would be viewed as acting as a real estate agent which would require a license.
Now if you are marketing to sell your option contract itself, you would not need a license.
Consult your attorney for specific guidance.