Real estate contracts. Can a person who made an offer on a house purchase the house "by owner" afterwards?

Question

The house was listed with an agent.

People visited the house with an agent, and made an offer, to which the owners decided not to take.

A few weeks later, the sellers told the potential buyers that they want to sell by owner once the contract ends with the listing agent.

Question: can a buyer who has made an offer, buy the house by owner?? What is the usual legal contracts regarding this? I know it all depends on the contract, but is it usually 30 days or maybe more until a person who made an offer can buy the house by owner?

Answer 1

The agent who showed you the house will know when it is sold and will know the buyer is you.  MLS shows all transactions.

They will have every legal right to claim commissions from the seller.

There is a time limit.  I think it's within 90 days.  Not positive about that or if it varies by state law.

Answer 2

The Seller's Listing Agreement controls.

Frequently they say anywhere from 30 days to 6 months after expiration of the contract, that is some one saw the house while listed and buys it, that commission is due.  So talk to the sellers.  Frequently sellers can end their listing agreement early, but NOT shorten the time period in which they will owe commission if house sells to some one who saw it earlier.

Both seller and purchaser should have attorneys to handle this deal from the beginning.

Answer 3

It will depend on the contract the owners had with the listing agent and your state law.

Answer 4

Were the buyers represented by the agent?  Or id the listing agent show them the property?  There may be 2 contracts to be concerned with if the buyers have representation.  If the buyers have no representation, then there is just the agreement with the sellers and their agent.  If the seller sells to a buyer who has been shown the property while it was listed, the seller may owe a commission to the listing agent and/or the buyers agent.

Answer 5

If both sides had agents, both are potentially in legal hot water if they try to circumvent their agents. You are right that this depends on the language of the contracts each party signed. There’s no “usual.” This will vary from state to state.  Your state’s laws are available online.

The listing agreement the seller had with his agent spells out a specified period after the listing agreement expired that if anyone who *saw* (not just made an offer) the house during the agent’s listing period buys the house, the listing agent still gets their commission.

If the buyer’s had a separate agent and signed a buyer’s agency agreement, they’ll have to review it to see how long that agreement stands. If there was no formal agreement, review the state laws on the subject.

I will never understand how people justify making an agent do all of the work without getting paid and then trying to go behind that agent’s back to save a couple of bucks.  Just remember, someone who will s***w over his agent likely has no problems s******g you over too.