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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53705
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I am a real estate agent/investor and a friend brought

Customer Question

I am a real estate agent/investor and a friend brought me a deal that I currently have under contract. The seller was looking to net 60k for the property even though the property is worth significantly more.
Now that I have the property under contract and conducted my inspection, there were quite a few issues with the property. I mentioned that I would like to market the property for sale and if I found another buyer for it that net the sellers what they wanted at 60k during the allocated time period I would transfer the contract and they were fine with that. My concern is that I would be listing the property significantly higher than 60k.
If the sellers see that, I do not want to have any issues. Is there anything I should be worried about if they see that and have second thoughts?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Richard replied 5 months ago.
Good afternoon. As long as you have a binding signed contract that allows you to assign the contract, it doesn't make any difference if your seller is uncomfortable if he finds you are listing it for an increased amount. He is legally obligated to sell you the property and if he tries to object, let him know you will be filing suit for specific performance forcing him to close pursuant to your contract. :)

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