Q: I am not sure of the arrangement between the buyer and their Realtor. Through the Realtors, we signed a lease/purchase option last September 2010. Can buyer and seller agree to a sale by owner without Realtors in October 2011?
?Time, Ohio
A: To answer your question, one would have to review the lease/option agreement you signed with the Realtor. Also, lease/option to buy contracts can be legally troublesome. I recommended you consult with a real estate attorney in your area before taking this road.
Adam Aguilar is a Realtor? with Reliantra in West Toluca Lake, CA.
,strong>A: Hello, Sounds to me like you have a lease option contract already in place. I am assuming you as the seller had a Realtor representing you and buyer had a Realtor representing them. I would review all contracts as you probably owe the listing agent/brokerage a commission as their marketing and listing brought you the seller the buyer. Usually, the listing agreement and or lease option agreement covers that buyer no matter when they would execute the purchase. Really no different than selling your home ?normally? just a protracted escrow so to speak. If in doubt consult an attorney.
Rena Kovach is a Realtor? with Fairfax Realty in Vienna, VA.
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