-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
Answer - A.J., My first thought is that also, but after I think more about it I can see why the builder wants to keep his craftsmanship available for the public to view before it closes and you get the key.
;)
;)
;)
Find KY real estate agents and Lexington real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
16 Comments on Should A Listing Agent Hold An Open House At A Model Home If It Has A Pending Contract?
If the contingencies are fully removed, you could have a point. If there are still contingencies, he has a right to continue marketing.
I show until we close escrow, so I vote yes. :-)
I agree with those who side with the buyer. If I was the buyer and moving forward as planned, I wouldn't want any unnecessary foot traffic in the home I was in the process of purchasing.
Having a right to continue marketing and respecting the buyer's desire to know the home is in the same condition as when the offer was made... are two different things. The policeman has the right to give you a ticket for making that illegal left turn... but depending on the circumstances, he can CHOOSE not to.
Good question. When a buyer buys the model home, I think they should realize it's a model and will have more wear and tear then a non model. Usually they sell the model last since they need it to sell the others.
Lizette - good question. We always leave it up to the seller until we are out of Attorney review and all the inspection contingencies have been met and agreeable by both parties. Most of the time the sellers will allow the showings to continue till then but of course each case is different as you know....
Lizette - This was the case with the last model home that I sold. the seller kept showing the model until all of the contingencies were removed.
Lizette - I know so many buyers feel it's already their house and don't want anyone else to walk through it and I completely understand how they feel, but as you said the seller still owns it and can do what they want.
Right...the builder still owns it until closing and the final walk-through should eliminate any fears the buyer may have.
The builder is entitled to show his work. The builder owns the home until it closes and the Realtor should always protect the home in showings avoiding any undue traffic problems.
New construction has some tendencies that resales do not.
Katie the Real Estate Lady
http://www.kreillylund.remax-nj.com
Yes, the house should be available for showing. We are seeing many contract fall through at the very last moment. The house is not really sold until the settlement is complete and the keys are handed to the new owners.
It is smart business to do that...
I agree the builder has the right to continue showing the property until the sale closes unless specifically stated to the contrary in the contract. I have a new home under contract and the builder is still showing the unit--my buyer is okay with it as long as any excessive wear and tear is repaired prior to close of escrow.
I think its okay to have the open house still. As you mentioned, this is a builder and there are more homes available. Technically, its not their home until the deal closes and funds.
Lizette,
That is an intersting post. As an inspector, I have thought about the fact that some problem that was not present could develop in an occuppied home. You know, hole in door as a result of owner tantrum, something like that found after buyer moves in.,
If it is in pending status it is a done deal as far as I am concerned and I no longer do showings there.
I think the buyer has no right to dictate what happens at the home until it closes. The seller owns the home until that point. The final walkthrough done before closing will capture any damage that has occurred since the home inspection.
Login or register to leave a comment