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Earlville, NY | Quick question, since it's the weekend and lawyers don't work weekends. Made a verbal agreement on purchase of a small neighboring farm with the owners. They have had it listed with an agent for 3 years, originally as 2 separate pieces; parcel 1, tillable land, parcel 2 some land and barns, house. We were interested in parcel 1, told agent and owner. Owners have been willing to sell separate if they couldn't get a buyer for everything, several deals have fallen through for them. They finally found someone that agreed to purchase whole thing at list price. Our circumstances have changed and decided we could afford to purchase the whole thing, to get the land, and we made a higher offer to owner, which he wants to take. (Other buyer still needs to get funding approval etc, we are ready to write a check for down payment and sign agreement). During this past 10 days, agent has never contacted us but is fully aware we've been talking to the seller. Is it fair to assume since it was listed with the agent, they will still get commission from sale? Not my problem, but I'm curious. Also, should seller and I be responsible for getting a lawyer and all paperwork started, without the agent? Like i said, simple questions for a lawyer but they aren't open till Monday. Hope that's sufficient info. | |
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Real estate purchases
