I would really appreciate some feedback.
I am in a tight situation. My house is on the market with an Agent of my wife's choosing, Agent is a family friend of ex. Court order states that ex has a right to list/sell the house without my signature. We are both on title. This happened after I brought a motion seeing dual representation which clearly I lost.
Agent and ex know clearly that I want to purchase my own home. Ex has refused 3 offers and keeps upping the price. Court order states Ex cannot sell for less that X amount of $. Agent has said that bids for the house will be accepted till Tue at 7 pm. At which time bids will be opened and bidders will get a chance to bid and highest bidder will be successful.
Listing Agent previously has verbally agreed ( conversation recorded) that if I buy my own house, she will not be charging her full commission, but instead I will pay he,r her costs, plus a 1000$.
My question....
1. If an outside buyers bid is say 500,000, At 4.5%, agents commission will be 22,500. In hand we get 500,000 minus 22,500 i.e 477,500. Will they be forced to accept my offer if I bid anything over 477,500?
2. Another agent told me, that I have to bid over 500,000 to be successful so that on paper it shows that my prices as the highest, but in reality I pay anything over 477,500.
I am quite in a jam, your advise would be much appreciated as always.
I am in a tight situation. My house is on the market with an Agent of my wife's choosing, Agent is a family friend of ex. Court order states that ex has a right to list/sell the house without my signature. We are both on title. This happened after I brought a motion seeing dual representation which clearly I lost.
Agent and ex know clearly that I want to purchase my own home. Ex has refused 3 offers and keeps upping the price. Court order states Ex cannot sell for less that X amount of $. Agent has said that bids for the house will be accepted till Tue at 7 pm. At which time bids will be opened and bidders will get a chance to bid and highest bidder will be successful.
Listing Agent previously has verbally agreed ( conversation recorded) that if I buy my own house, she will not be charging her full commission, but instead I will pay he,r her costs, plus a 1000$.
My question....
1. If an outside buyers bid is say 500,000, At 4.5%, agents commission will be 22,500. In hand we get 500,000 minus 22,500 i.e 477,500. Will they be forced to accept my offer if I bid anything over 477,500?
2. Another agent told me, that I have to bid over 500,000 to be successful so that on paper it shows that my prices as the highest, but in reality I pay anything over 477,500.
I am quite in a jam, your advise would be much appreciated as always.
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