Real Estate News

If a real estate salesperson offers to buy your home, it’s an offer you can refuse

> > Real Estate News > If a real estate salesperson offers to buy your home, it’s an offer you can refuse

Navigating time sensitive real estate offers

Date: 10/02/2018 | Source: http://www.thestar.com

Can a real estate sales agent really promise to buy your house if it doesn't sell within a certain time frame? Yes, however this might not always be the best option. This arrangement doesn't always work out as expected, so make sure you speak with a lawyer and fully understand the terms. If you do need to sell your house quickly, this could definitely be a good option - as long as you are informed. The Star said, "When a registered salesperson or broker gives you an offer to purchase your property for their own use, they must give you written disclosure of information, such as whether they are buying it for themselves or a related person; any facts that may affect the property’s value; and any plans they may have for it." 

If a real estate salesperson offers to buy your home, it’s an offer you can refuse

I spoke to a real estate salesperson who offered to buy my house if he can’t sell it after a certain length of time. Can he do this? Should I sign him as my rep? The short answer to your question is that the type of arrangement you mentioned isn’t specifically prohibited under the Real Estate and Business Brokers Act, 2002 (REBBA). So you may wish to consider the salesperson’s offer if you need to sell your home quickly and obtaining the highest selling price isn’t necessarily your primary motivation. It’s a valid business practice.

Realtors allowed to post sold prices — finally

The Toronto Real Estate Board (TREB) has turned on the sold data tap, officially allowing brokers to post the selling...
09/27/2018
Read

Should you probate a will that includes real estate?

Our father just passed away and my sister and I are co-executors and the only beneficiaries to his will. Do...
09/26/2018
Read

Toronto home search moves to smaller Ontario cities

Three years ago, you could buy a house in London, Ont., for $234,000. Today, it will cost you $364,000. “I...
09/19/2018
Read