Legal Question in Real Estate Law in New Jersey

We made an offer on a property that wasn't accepted this past September. We made our offer amount decision on information that we received from the Realtor we contacted when we saw the property for sale sign. The information turned out to be incorrect, consequently our offer was too low and wasn't accepted.

Since then, the sellers took the property off the market. We regret not offering more and really want to purchase the property. Can we contact the seller to see if it's still available and make another offer directly to them? Wondering if there are any legal or ethical issues or time restraints since we made the initial offer through a Realtor?


Asked on 12/28/09, 4:26 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

You can contact the seller to make a different offer. The obligation to pay the commission, if any exists at this time, is the seller's. You should not participate in defrauding the seller's broker by inducing the seller to violate the commission agreement or otherwise. However, the agreement may have expired and may not have any effect. Assuming that you will be represented by an attorney in the transations (buyer almost always should be), you can bring the matter up with him or her.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 1/03/10, 5:52 pm


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