Can a listing agent continue to show homes even after it’s under contract, approved, and a closing date is set?

A listing agent may be able to continue to show a home to prospective buyers, depending on the agreement that the listing agent has with the person selling the house. Until the buyer actually owns the home and ownership has transferred to him, the buyer doesn’t have any legal right to control what is or is not done with the property. Thus, if the current owners and sellers want the agent to keep showing the property in case things fall through, this is legally permissible.

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I own a property site with my sister who is living in it rent-free. She is not interested in purchasing my half. I’m not getting any use or value from the property as is. What are my options?

If your sister is unwilling to sell the property voluntarily or to pay you for your half, your best option is to sue for partition. Of course, before you rush to legal action, you may want to try working things out with your sister on your own and trying to come to some type of an agreement.

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If a home buyer makes an offer on a house, is she bound to it? If a home seller accepts an offer, can he change his mind?

A home buyer can withdraw an offer at any time until the offer is accepted by the home seller. After that, the seller may owe a commission to the broker, and may sue the buyer for breach of contract to recover the cost of that commission. If the seller changes her mind after accepting an offer, especially if the terms of the listing agreement have been met, she usually still owes the broker a commission.

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What happens after a buyer and seller agree on a price for a home?

After you find the home you want to buy, you, as the buyer, will present an offer through the real estate agent to the seller, outlining the purchase price, time to close escrow, contingencies, amount of deposit, etc. The seller can reject the officer, accept or counter. If a deposit is required, an escrow account is set up. Various property inspections are performed to determine the overall condition of the property. The Transfer Disclosure Statement is filled out by the seller and given to the buyer, which details the present condition of the property, including defects and malfunctions. If defects are uncovered, it is necessary to decide if the repairs will be done at the seller’s expense, or taken as a credit against the purchase price.

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