Posted by buck on July 21, 2002 at 20:45:36:
Since my fiasco in Atlanta, if I catch a realtor declining an offer without taking it to the seller, there will be a cold day somewhere for the realtor and the broker…
Buck
Must realtors submit all offers even from minors? - Posted by Daniel
Posted by Daniel on July 19, 2002 at 13:38:46:
Hi Board,
Are realtors obligated by law to submit all offers even from minors?
Dan
Contract issues of being a minor have been solved - Posted by Daniel
Posted by Daniel on July 19, 2002 at 14:42:00:
To any Brokers, RE lawyers, investors or anyone versed in RE Law:
Once back I asked for suggestions on how a minor could legally invest in real estate. At that time some issues about signing contracts came up etc. Thankfully at this point with the aid and advice of some seasoned investors I have solved that problem.
Moving on this next question is for my own general knowledge and empowerment:
Are real estate agents obligated by law to present all offers even when a minor makes that offer?
Thank you for all your continued support.
Daniel
Re: Contract iss of being a minor have been solved - Posted by GL(ON)
Posted by GL(ON) on July 19, 2002 at 15:06:26:
I assume by solving the contract problem you mean you have a parent or guardian or adult partner to sign, or can document that you are self supporting and can legally contract for necessities of life including housing.
If that is the case, the offer is not from a minor.
If the offer is from a minor and is not legally enforcable you are getting into a grey area. I think the agent should submit the offer but if it is not enforcable why would the seller even consider it?
Agents often take it on themselves to reject offers they don’t like even though they do not have the authority to do so. I wonder how often an agent has looked at a contract signed back by the seller and said “Gee if I had known they would take a deal like that I would have bought it myself”?