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Still Showing The Place |
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Dear Ms. Lank: After there is a signed contract on a property but it has not closed yet because still going thru mortgage approval process, inspections, etc., is it allowable for the Realtor to show the property to anyone else as a back-up in case the contract falls thru? And is it required that a 'sale pending' sign be put on the property? This is a question my friend has, would you be so kind to let me know the answer and I will forward it to her |
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Once a sales contract has been signed, the buyer has the right to buy the property according to the agreement. The seller still owns the real estate, though, and has control of it until the actual sale. It's up to the seller whether a sign is put on the house, and it's up to the seller whether the agent continues to show it in hopes of securing a back-up offer. Sorry if that's not what your friend wants to hear
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Edith
Originally published on February 6, 2005 |
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