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SUB 2 with listed property

Posted by: kenpgh customer service
Posted on : 2/14/2014 10:46:05 AM

If the seller deeds me the property while the property is listed on the MLS, am I able to "fire" the agent and then have him re-list the house for me? Seller is about to lose home to foreclosure, I want to make up his back payments to stop the foreclosure in exchange for the deed (if the #'s make sense).

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Re:SUB 2 with listed property

Posted by: WilliamGA Still Master of ALL I Survey
Posted on : 2/14/2014 10:53:44 AM

Hi ken,

If the property is listed when you make contact with the seller, the seller will need to get a release from the contract they have with the agent.

The seller entered into this contract and they will have to cancel it.

Of course the seller can deed you the property anyway, but THEY will still be on the hook should the agent try to hold them to the contract. This is a fact you should make them aware of if they aren't already and have them do to protect themselves.

Most agents I have met will gladly cancel the listing and present no problem especially in this seller's situation.

Good Luck!

William Tingle
www.Sub2Deals.com

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