1. How many days before the scheduled closing, does the buyer's agent have to present us with the final "letter of commitment?"

    Reader Question: Is our transaction failing? How many days before the scheduled closing, does the buyer’s agent have to present us with the final “letter of commitment?” We want to firm up our plans. Monty’s Answer: The first place to look for your answer is the contract. Each state has its laws and forms, so […]

    November 4, 2019
  2. Can an agent add extra commission in an offer?

      Reader Question: A home buyer offered us an amount that we liked. But there was an addendum by the buyer’s agent for extra commission. We did not accept that and counter-offered. However, our agent told us the deal would not go through if we did not accept the request by the buyer’s agent. Can […]

    October 21, 2019
  3. Who pays the real estate commission?

    Reader Question: We are preparing to place our home for sale in the spring market. As we interview real estate agents, they differ on who pays the real estate commission in the transaction. This difference is curious to us. How would you answer the question? Monty’s Answer: Who pays the real estate commission is an […]

    May 13, 2019
  4. Must a home be listed in the MLS to be "for sale?"

    Reader Question: Must a home be listed in the MLS to be for sale? What, if any, legal issues would be caused by offering on a home that’s off the MLS but was on it recently? Should the seller’s agent re-list it before one makes an offer? Monty’s Answer: Any seller is free to sell […]

    May 5, 2019
  5. Can a Seller Contact a Prospective Buyer Directly?

    Reader Question: Can a Seller Contact a Prospective Buyer Directly? Is it OK to reach out to the prospective buyer and see if they have any questions about my house? They came and looked and appeared interested. My real estate agent will not communicate with us, so we do not know the status. Monty’s Answer: […]

    April 8, 2019
  6. Do we have any recourse to continue to fight?

    Reader Question: We wanted to trust our real estate agent. We accepted a purchase offer which allowed us to stay for 21 days after closing with no cost and an additional 45 days at a nominal daily rate. We were out of town during the entire transaction, and our agent sent us the electronic document and […]

    March 24, 2019