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Offering an Auction |
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I am selling my property fsbo and am considering encouraging bidders for it. I want to add "HURRY! bidding has started" in the ad. Would I be breaking the law and what would the legal implications be. If I accepted a bid would the closing procedure be the same as a regular fsbo sale? |
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I don't think I'd want to lie in an ad. Besides being a bad thing to do, it could come back to haunt you.
Before you accept a bid, be sure you know the prospective buyer is financially qualified to go through with the deal. Have your own lawyer's input on any contract before you sign it. And go to the library and study -- learn all the fair housing and disclosure laws you must follow as a seller. Yes, contracts and closing would run the same as for any other sale. |
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Edith
Originally published on October 3, 2007 |
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