Asked by NH Seller, New Hampshire • Wed Jan 23, 2008
Here's the scoop - we have listed our condo with a realtor and are planning to build a house. We are not seeing much activity on the condo, and the builder will only hold our lot for a certain amount of time. The builder has mentioned that when our contract with the realtor runs out, that he could make us an offer on the condo. It has been explained to us that this would be a 'backup offer,' at 'fair market value' (less than our asking price for sure) and that we can relist with our realtor and continue to try to sell our place. However, if we agree to the builder's backup offer, it allows the builder to start building our house. If our condo has not sold by the time the house is finished, we would accept the backup offer from the realtor.
My question is, is this legal? Are there any issues with the builder making us an offer? We do not want to get in a situation where the realtor comes back and says we owe them a commission....!
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!