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Updated about 8 years ago on . Most recent reply

User Stats

102
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21
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Jeremy Anan
  • Rental Property Investor
  • Maryland
21
Votes |
102
Posts

Seller's Agent stated "Buyer will be unrepresented ( no agent)"

Jeremy Anan
  • Rental Property Investor
  • Maryland
Posted

Hello BP - I've submitted a LOI on a Multifamily deal. When chatting with the seller's agent, he asked me whether I will be represented by an agent, I responded no.

After hearing back from his seller, the agent sent me a counter. Below is some of the language in the counter:

"- The contract has to have as-is addendum.

- No seller financing

- Confirmation - buyer will be unrepresented ( no agent)

- Closing costs will be split by the buyer and seller."

I am wondering why does the seller care whether or not I have an agent?

Thank you BP

  • Jeremy Anan
  • Most Popular Reply

    User Stats

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    Tom Gimer
    • DMV
    3,453
    Votes |
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    Tom Gimer
    • DMV
    Replied

    The PSA will have a provision confirming this and you will also agree to indemnify the seller should any other broker claim the right to a commission.

    In other words, if some other broker introduced you to this property... that's your problem.

    • Tom Gimer
    business profile image
    Gimer Law
    5.0 stars
    13 Reviews

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