Am I under contract?

Wayne Heckman
Wayne Heckman
Home Buyer
Bellefonte, PA

I found a house for sale buy owner. I looked at it by myself and then with a buying agent. I then signed a contract with the buying agent and the buying agent then dropped a bid contract off to the seller. The seller doesn't want to use any realtors. The seller only wants to use lawyers. The seller didn't sign any contracts.

Mon Sep 28 2009, 17:20 - Home Buying in Bellefonte - 1 answer
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Patrick Thies
Patrick Thies
Agent
Elmhurst, IL
FIRST ANSWER

You do not have a contract until both sides sign the contract. What you have right now is an offer. If the seller does not want to use any realtors, then I presume that they are not paying a commission to your agent. You said you signed a contract with the buying agent. Do you mean some kind of buyers agreement? Look at your agreement carefully. If you go forward with the agent you may have to pay the commission. See what your agreement says.

Mon Sep 28 2009, 17:46
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Karen E. Rice, Real Estate Pro in Hawley, PA
How would you arrive at an offer on a spec home that has been on the market for 1 year?
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