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Can this contract be saved

October 21st, 2012 | posted by Illtakit

on our first homework assgn we were to call realtors, on my third call the realtor told me she had a SFH for 100k needed 50k in repairs and the ARV was 235k. i did my homework to verify the numbers, BTW the property was not listed on the MLS. I put a contract on it for 85K last Friday, found an end buyer for 120k and was ready to go. Wednesday she listed it on the MLS for 85k. Needless to say my end buyer backed away, is there any way i can pursue other end buyers. can anybody advise me as to how to pull this rabbit out of the hat

On 5:07am, October 27th, 2012 EcoSavvyMama said:

She shouldn't be able to list it, right?

I'm just starting so I could be wrong but if you have it locked up under contract the realtor doesn't have any legal rights to offer the property for sale. I would think you have grounds to make her pull the listing.

I would have a conversation with her to make sure she isn't going to blow it for you anymore before pursuing another buyer. But then I would also consult an attorney too.

Hope it all works out for you,

Elisa

On 22:48pm, April 3rd, 2013 Illtakit said:

Private Lenders

Fellow investors can anyone reccommed a private lender who will allow a seller carry back for 100% financing

On 23:51pm, April 3rd, 2013 Valuni said:

UNDER CONTRACT?

Valuni's picture

did you and seller sign a purchase agreement? If not, she can list it.
Also, if she already had an agreement with seller to list it on the MLS, she has to list it...

Have you talked to agent about this? Communication is key.

You can offer less than 85K and put it under contract (again), and find another buyer...