Legal Question in Legal Ethics in Illinois

If I put ernest money down and make an offer on a house is the realtor allowed to sell it to someone else without notifying me of another offer?


Asked on 5/28/10, 3:52 pm

1 Answer from Attorneys

Insufficient facts but here are a few basics: brokers have their own ethics (statutory, and "Realtor" code of ethics) - this is not a case of "legal ethics"; brokers are obligated to present all offers to the seller and can discuss and recommend each or none but it is the seller who ultimately decides whose offer, if any, to accept; the broker was mostly likely not your broker but the seller's broker unless you signed off on a "dual agency" and without that owes you no "fiduciary" obligations; the broker sells nothing without the seller's acceptance of an offer; if the broker cashed the earnest money check before your offer was accepted that was wrong; the earnest money check is just part of the offer and if not accepted you get it back. If you have any other questions, you should talk to the managing broker of the brokerage office first.

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Answered on 6/01/10, 8:45 am


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