what are brokers obligations showing the apartment after the 10% deposit?
Started by julialg
almost 16 years ago
Posts: 1297
Member since: Jan 2010
Discussion about
They are not obligated to do anything, other than try their best to sell your apartment, unless you have something in the contract that says otherwise.
As it is, you have leverage over your broker because they will do anything for that, cough, 6% commission, so make them work for it...
I would continue to show the apartment until attorney review and/or board approvals are completed. If you qualified your buyer, then you should have a comfort level on their ability to get a mortgage.
Once a deposit has been plunked down, the seller has obligations to the buyer at the point. It could be negotiated that showings would continue through till close, but unless it was, it's really a slap in the face to the in-contract buyer.
Also, the agent has an ethical obligation to other possible buyers and brokers to let them know the apartment's contract status.
ali r.
{downtown broker}