Midwest rural/suburbia (edge of town with approx 15,000 residents). We got word (acquaintance of an acquaintance) of someone looking to sell a house that sounded like it fits our needs. We were contracted by the realtor who didn’t list the house. The house was also purchased within the last 90 days and renovated a bit, so we can see the prior purchase and pictures on Zillow, which gave us a decent starting point for negotiations. The owner put about $30K into upgrades, but didn’t want to go through the hassle of listing, etc. so he’s using the same agent he purchased it from to help with the paperwork. (Although I suspect she’s still getting a cut.)
Husband has been negotiating all day and we finally came to an agreement with the seller and will be signing paperwork electronically. Haven’t signed yet. We’ve been working with a buyer’s agent, but because the seller didn’t want to involve a buyer’s agent, we didn’t reach out to her.
This is our third home purchase (along with a few refi closings), possibly the last, as we’re empty nesters, so we kind of know what we’re doing, but this whole dual agency/not dual agency thing scares me. I tried to search the legal advice subreddit for dual agency nightmares (as suggested from a search), but can’t find anything over there. What sorts of things should we look for?
Our buyers agent will become our selling agent on our current home (in a fairly hot area) as soon as it’s market-ready, so she knows she will get commission. She’s aware of the situation and said to ask if we have any questions. Would we be out of line to ask her to take a look at the paperwork?
I feel bad that she’s not involved in this part because she’s been so great to work with and we were ready to make an offer and settle on a different house when this one came along, but if the seller doesn’t want to involve a buyer’s agent, it doesn’t seem worth walking away from. It has been recently inspected and found to be in good shape.