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My grandfather is selling his house (it was just put on the market a few weeks ago) and I am very interested in purchasing the house from him. However I want to just deal with him and not the realtor. Is there a penalty for “taking it off th market”.

Thanks for any info you can provide

Kathy

2 Thoughts on Penalties for taking house off the market and selling to an interested relative without a realtor?
  1. Reply
    southarkansas
    July 24, 2011 at 5:03 am

    check with realtor he may be under contract for period of time

  2. Reply
    dog ma
    July 24, 2011 at 5:26 am

    Kathy –
    He will likely owe his Realtor a commission if he sells to anyone within the time frame of the listing contract and often for 3 to 6 months beyond. Why don’t the two of you talk with the Realtor and ask if he or she will handle the sale for you for a substantially reduced commission? If it was agreed upon at 6%, for example, the Realtor would only get 3% if another agent brought a buyer. Maybe the Realtor would be willing to walk you through the process for 2%. It doesn’t hurt to ask, and is easier than trying to sneak around the listing agreement.

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