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Terry_3421, Other/Just Looking in Fort Wayne, IN

How long after canceling a seller's contract in the state of IN does a person have to wait before selling by owner?

Asked by Terry_3421, Fort Wayne, IN Tue Aug 17, 2010

grandma is selling her house, grandson found out, after the selling agreement was signed. He has always wanted the house and is willing to buy it. He wants to save grandma some bucks by not her not having an agent do the paper work. This is in the state of Indiana.

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Ask this question in Indiana and you'll get specific responses on their contract, but as others have said, the contract will specifically spell out the terms for cancellation but as Mechelle has said, if the agent has spent money on the listing, it would be fair and ethical to reimburse them for those expenses.

But also, your contract may have specified some exclusions in the contract, such as if a family member or friend were interested....in other words, read your contract because there is specific template wording specific to the state of Indiana, but also information that the seller and listing agent put in specific to that particular sale.

And one more thing...'saving grandma some bucks'...may actually end up costing her if the sale between grandson and grandma is not done correctly. Make sure a professional has reviewed the contract...be it a RE attorney or a realtor.
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Tue Aug 17, 2010
It is based on terms and conditions of listing agreement you signed with listing agent.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Tue Aug 17, 2010
You should read your contract. That information and information on how/if you could cancel the contract should be in there.
I would recommend that if the contract is canceled, and the agent has spend money marketing the home, the seller reimburse the agent for the expenses of marketing.
Web Reference: http://www.FolsomCorner.com
0 votes Thank Flag Link Tue Aug 17, 2010
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