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Samsam, Home Seller in Bronx, NY

Will a broker in NYC continue marketing/showing a coop apartment after a contract of sale has been signed?

Asked by Samsam, Bronx, NY Tue May 7, 2013

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If you are in a fully executed contract, signed by all parties and deposit money was exchanged, the document needs to be honored, therefore really no reason to keep showing the unit....
0 votes Thank Flag Link Tue May 7, 2013
Dear Samsam:

Assuming a contract of sale has been fully executed by both parties and the purchaser's down payment check has been deposited into the seller's attorney's escrow account... 99% of the time the broker will stop showing the property. However, sometimes (but rarely in Brooklyn) there could be reasons why an agent may want to continue to show a property, one being if the co-op has a really tough/difficult board and/or a history of denying applications to purchase.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Tue May 7, 2013
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