Tony-Chicago
TVWBB Wizard
I always read LM's posts. I read all of this posts. Then there are some I truly pay attention to. I think the new term is word. Great post!I have to ask also..............has this seller been a FSBO all along? (For Sale By Owner) I can tell you as a former Realtor for 14 years I always steered my clients away from FSBOs as they're total pains in the a$$. Their houses have gold nails, are better than anyone else's, worth $20k above the market, and I could go on. They FSBO for basically 2 different reason. One, an unrealistic expectation of value or two, saving a commission. The thing is two people can't save the same money. So if as a buyer you're comparing a FSBO to one listed legitimately with a solid Realtor the FSBO should be priced at least 5% below anything else. I would truly try and have your real estate attorney try to sue them for specific performance. I don't know IN real estate law but I assume it's very close to IL law. If there was earnest money involved they at the least owe that back and MAYBE with penalties. If this truly falls on it's face for future deals leave FSBOs as they are. Not worth the time and trouble. The saying "an attorney who represents himself does no good" holds true for real estate deals as well. A good Realtor has a lot of training in home values, knows current real estate contract law (at least they should) and if ANY Realtor tells you don't bother with an attorney........................dump them like a hot potato. ALWAYS ALWAYS ALWAYS have a real estate attorney involved as soon as sigs go on a contract. Anything less can be costly if not in $$$$ in heartache as well
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