Broker Should Submit All Purchase Offers

Question: We listed our Gilbert home for sale for $650,000. After two months we received a cash offer for $638,000. We reluctantly accepted this cash offer for $12,000 less than our listing price. We have now learned from another Realtor that, before we accepted this $638,000 offer, this Realtor’s buyer had made a $650,000 offer…

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What Qualifications Do Real Estate Agents Need?

Question: In a recent column you said that, under Article 26 of the Arizona Constitution, a real estate agent has the right to practice law, e.g., draft purchase contracts or leases in a real estate transaction. We recently moved to Arizona from West Virginia, and we are planning on buying a new home from a…

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Can Listing Agent Bind Seller to Purchase Contract?

Question: In a recent column a buyer made a $480,000 offer to purchase a Casa Grande home. The listing agent emailed the buyer’s agent, “Sounds good. Let’s open escrow. Seller signing the purchase contract.”  The seller then sold the house to another buyer for $510,000. Your answer was that the email of the listing agent…

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