How do you handle bidding on a house through the seller's realtor?
Kra5hnburn
Posted:
Member since
How do you handle bidding on a house through the seller's realtor?
So, I'm contacting realtors from MLSLI directly instead of going through a realtor of my own. What happens if I want to make a bid? I make the bid directly to that realtor? Does that realtor hold onto my binder? For that matter, how does that work with a for sale by owner? Of course you bid to them, but would they hold onto your binder, or would you give it to your lawyer? I just feel insecure handing my check over directly to 'the other (aka: Dark) side'.
DjPiLL
Posted:
Member since
Re: How do you handle bidding on a house through the seller's realtor?
I thought legally they are not supposed to cash your check till a contract is signed.
So handing them a check really isn't that big of a deal cause if they cash it and walk away from the deal... thats major trouble for them.
HearzBellz
Posted:
Member since
Re: How do you handle bidding on a house through the seller's realtor?
If you bid on a for sale by owner, then the seller's atty holds th down payment in an escrow account.
