Posted by Tyler on May 03, 1999 at 23:47:42:
I know an investor who ran into a situation similar to this a couple of weeks ago.
What he did was have the seller call and pull their listing. Most REALTORS have a 90 day rule, where if you sell your property to someone within 90 days of pulling your listing, and it was a result of their marketing efforts, you still owe them a commission.
In this case, the seller has decided to “keep” the property.
You walk in and lease it from her for a couple years (whatever your term is), with a seperate option agreement.
Based on this scenario, I am of the opinion that this flies ethicly as well.
The seller called YOU, and you’re intervention was not a result of the REALTORS efforts. She is legitimately going to “keep” the property, and lease it out instead of sell.
Just an idea, but I’ve seen it work here before. Listing agent didn’t even blink…and you won’t have to worry about any “sale” coming up on the records in the next 90 days, because there won’t be one.
Hope this helps