Selling house to tenants - real estate agent disappeared
Hi all
I found myself in an interesting situation:
Background:
- Rental property (SFH) is located in Northern Virginia and tenants are interested to buy.
- I get representation from my property manager as a real estate agent in Feb 2020 (signed agreement expiring Dec 2020). Commission is set to 3% because buyer is already found
- tenants agreed on purchasing the house as is ($30K worth of repair: roof, wood) for around $435K. Est house price is $460K at that time
Situation:
As of March 2020, there is no news from the real estate agent. I learned from second sources that she has had a serious surgery and she is recovering in a nursing home. I tried to contact her daughter but no answer . House is now estimated at around $500K.
Since a large portion of the groundwork from the real estate agent have been done (finding buyer and negotiating a price), how would you move forward? I still have an agreement signed with her expiring in Dec 2020
Thanks