Obligations to a realtor
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Obligations to a realtor
If I’m selling my home via a real estate broker and an offer comes in at 95 of the asking price, am I obligated to take that offer if there isn’t such a clause in the contract I signed with the Realtor?
Asked on August 12, 2017 under Real Estate Law, Colorado
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
No, you are not required to take an offer at 95% of asking, or even at asking, or even over asking price, unless, as you note, the contract you signed with the realtor requires you to do so. In the absence of a conractual obligation, a home seller may freely decide whether to accept an offer and which offer to take.
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