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Updated over 7 years ago,

User Stats

101
Posts
47
Votes
Don Nelson
  • Rental Property Investor
  • Buena Vista, CO
47
Votes |
101
Posts

Permission to market equitable interest?

Don Nelson
  • Rental Property Investor
  • Buena Vista, CO
Posted

Hello BP!  I'm working as an agent for wholesalers.  The listing agent on a contracted property discovered they wholesaler was marketing the property.  She claimed they are not allowed to do that or take pictures of the property without the permission of the seller.  She also stated that the buyer was deceiving the seller with their intent on the deal.  The sellers thought they had a "real buyer" and are upset the wholesaler is marketing it for $10K more than the contract price.

Question - Does the wholesaler have any obligation to ask permission from the seller or disclose marketing their interest (i.e. the contract for sale) in the property?  Any legal references would be helpful.

Secondary question - Is there anything unethical on my part (the agent) in writing contracts with advanced knowledge that the buyer intends to wholesale it?  Thoughts?

Many thanks!

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