All Forum Posts by: Cason Acor

In Utah, if your license is denied, you can appeal and make your case. You should see if there are similar provisions in California. 

Competition brings the best results. Give the agent the listing with the exclusion and tell the buyer to up his game. If he’s as big of a player in the market as you say he is, and he truly is interested in the property, then they’ll be plenty more buyers waiting in the wings if you list it. If you have a good agent, you should more than make up for his fee with a higher price. And, the agent is motivated to find another buyer to pay a higher price, because that’s the only way he gets paid. List that sucker. 

Can’t do that. 

@William C. the only way you’re going to stop the sale is to take all the evidence you have and report it to your state licensing division. They’re the ones who actually have the legal authority to step in with actual consequences. If the deal closes, the state can take it to court to get them to nullify the sale if it was executed under false pretenses. 

I would submit a complaint against all the agents involved to your local Association of Realtors. At the very least, what they're doing sounds pretty unethical. And if they're marketing the property on the MLS without any sort of listing agreement or consent of the true owner, then they're also breaking the law. I would also report those involved to whatever your state agency is that governs real estate laws and licensing.

I would also ask if you’ll be paying any discount points. 

You have to double close if you want to avoid any trouble. Assigning contracts right now will attract a lot of unwanted eyes. 

That should all be outlined in your purchase contract. 

I know in my state, contracts entered into with minors are unenforceable. Meaning that a minor could indeed sign a contract, but if there were any breach, the case would be thrown out in court. 

Commercial properties are valued based on the income that they produce, not comparables. At the very least, you'll need to know the going cap rate for your area and the property's net operating income. Divide the NOI by the cap rate, and that will give you an estimate of current value. There's obviously a lot more that goes into valuation of commercial properties, but this is the basic gist. I would suggest finding a good commercial broker to help you with the process. They'll also be more familiar with the cap rates.