Seller's agent is a wholesaler
I've been in the process of purchasing a duplex and all along the seller's agent has been pretty much unresponsive to mine. Last week we sent an addendum to extend the mortgage contingency because it's been difficult to schedule the appraisal due to the very slow agent and scheduling around the current tenants. The seller had until yesterday to sign the document. At 8pm last night, the seller's agent said his client would sign the paper today. We sent a letter of termination because it had to be signed bye 11:59 yesterday. I got a call from my attorney today saying he talked to the seller's attorney and they found out he's wholesaling the property. I'm not sure how this works when the seller of the property is listed on the contract. Is this legal? Does the agent not have to disclose this upfront? It feels really unethical.
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#2 Buying & Selling Real Estate Contributor
- Investor
- Get yourself trained before doing something inadvisable.
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#2 Buying & Selling Real Estate Contributor
- Investor
- Get yourself trained before doing something inadvisable.
I'm curious, since you have legal representation that you are presumably paying for, why are you asking people you don't know, who aren't there, haven't seen the paperwork, don't know the local laws or the situation, instead of asking your attorney?
Do you not trust your attorney for some reason?