Home Buying in Santa Monica>Question Details

Skinanny, Both Buyer and Seller in California

we have just opened escrow, and we are waiting on the apprasial, can our realtor,also sellers realtor

Asked by Skinanny, California Mon May 4, 2009

continue to show the home, and take back up offers

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good afternoon skinanny~ yes, and in this current market that we're in the agent is smart to do so. that does not prevent you from moving forward and as long as you're in compliance with the contract and doing your due diligence regarding your inspections and such, you're in control and are the only ones with the power to cancel escrow (provided you discover something that would force you to cancel) within your contingency period. if you come to a point where you are in breach of that contract, you lose that power and the seller can then force your hand into continuing or canceling..... or the seller's at that point can cancel themselves. stick to the contract, communicate and do your due diligence and you will be okay.

kindest regards,
robbie sikora
310.710.5214
Gibson International
0 votes Thank Flag Link Mon May 4, 2009
Continuing to market the property for a back-up offer, given the lending environment and other aspects of this job market---such as a Buyer suddenly being laid off---is only prudent.

But from the question, it sounds as if the Buyer's realtor is also representing other Buyer's for a back-up offer. I'd be very queasy about that as an agent. If it's another agent in the same office, shrug...it happens. But I would prefer to be representing only one client but wholeheartedly.

It felt awkward a few months back when I had two clients interested in the same house. Only wrote an offer but didn't get, losing out in multiple offers. I would have referred the second Buyer to another agent had they wanted to write an offer as well.
1 vote Thank Flag Link Mon May 4, 2009
Yes, the Realtor can continue to market the property as long as it is clear that they are marketing for back up offers.
1 vote Thank Flag Link Mon May 4, 2009
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