An agent has now convinced my seller that she can find someone to give her a better price (she claims to already have a buyer). I don’t think so, expecially since the house needs repairs and she has to sell immediately - as she does not have any money to make the payment.
I am thinking of two options:
Can the seller refuse to sign the contract and tell the agent that if she can find her a buyer she will be more than happy to pay her her commission but she can’t sign the contract until then.
I know there is some specific wording that can be added to the contract about me having already made her an offer and if she does end up selling to me, we do not have to pay commission. Does anybody have the wording for this?
I don’t mind if she can get a better price, what I mind is that she may end up losing the house because the agent lies to her.
Tell your seller to sign a 30 day listing agreement with the agent. The agent won’t like it, but explain to your seller that it will prove BEFORE they sign anything, that the realtor REALLY has a buyer. If the buyer is for real the agent should have no problem with a 30 day listing agreement. I’m sure the agent will tell you her office will not do a 30 day agreement. Let me tell you this, in this market, that agent will sign a 24 hour agreement if she really has a buyer.
Any concern the agent has about this is bull, if the buyer is real all the agent needs to do is get a signed P&S agreement, a deposit, and a letter from a bank stating that the buyer is aprroved for a mortgage. Even if it can’t be closed in 30 days the agent is still protected. Most listing agreements cover that agent for up to 6 months or longer.
I’d call your seller and explain to them there is a very easy way to find out if this agent is being honest with you. Explain what I did above, and tell them…" You know the thing you guy’s really need to think about is IF this agent is B.S. ing you, your in a world of hurt." If she’s willing to sign for 30 days then she probably has a buyer, if not she’s full of it. My guess is just like a car salesman, she’s full of it.