Market Conditions in Canada>Question Details

Homehunter, Home Buyer in Canada, KY

Is there a law to withdraw and then put back a property on the market?

Asked by Homehunter, Canada, KY Wed Dec 8, 2010

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Thank you for your clarification. I'm sorry the house that you were interested in went off the market. If I understand you correctly, you were about to make an offer on the house but did not have anything in writing yet, correct?

As you probably already know, even if you have a "verbal" offer to purchase in place, the only legal Real Estate Contracts in Kentucky are those that are written. In terms of the seller removing their house from the market: that usually is a decision made between the broker and owner. To my knowledge, the only parameter in place that would govern the listing’s timeframe is the contract between the broker and seller and whether or not the seller and broker have come to an agreement to end the contract prematurely.

If you need any further help in the Central Kentucky area, please let me know!

Clark Shuman
Rector Hayden Realtors Lexington Kentucky
(859) 396-1135
http://www.clark.rhr.com
clark@rhr.com
Web Reference: http://www.clark.rhr.com
0 votes Thank Flag Link Thu Dec 16, 2010
Thanks for the quick answers!
I'm actually on the buyer side.
Was ready to put an offer on a house to then get told it was withdrawn from the market... Not too long after, it was put back on market at a higher price...
I was wondering if this was something that could be done or if there was anything in place to protect prospect buyers.
I guess it's all on the agreement with the listing agency?
0 votes Thank Flag Link Wed Dec 8, 2010
What is your agent advising, and what does your agreement state.....without many details, your agent can best advise.
0 votes Thank Flag Link Wed Dec 8, 2010
There are terms and conditions on your listing agreement that pertain to withdrawing the property from the market.
Your first step is to read and review the listing agreement and then contact the listing agreement and/or the listing broker.
You may also want to consult a real estate attorney to discuss your options.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Wed Dec 8, 2010
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