Do exclusions in a listing contract protect your clients items if not listed in a 1-4 contract?
2,755I listed a water softener in my clients listing contract but failed to list on the executed 1-4 contract when the offer was accepted. Do the exclusions in the listing contract protect my client in any way?
8 answer(s)
About 4 years ago
Two separate contracts. The One to Four Resale Contract is for the buy. The listing agreement is just guidelines between your brokerage and the seller. A NonRealty Amendment would work.
Like (1)
DislikeAbout 4 years ago
Exclusions are the notes to Realtors, not clients because they have no access. But sometimes selling agent forget to address it to the buyers and buyers keep thinking it is conveyed. With your case, u should talk to your broker as the first to go person, then selling agent. As everyone has mentioned, listing agreement is between broker/ agent and the seller, and 1-4 contract is bound between the sellers and buyers. With this case, if buyers insisted the exclusions, the responsibility should fall on both agents. If it cannot resolve, both agents should split the cost if it could help to survive the closing. Good luck!
About 4 years ago
Not at all. The listing is between you and sellers. You have to make sure they list the exclusions on the 1-4 which is the agreement between buyers and sellers.
If you and sellers missed it call the buyers realtor and see what they will work out with you. It could be items they don’t want anyway.
If you and sellers missed it call the buyers realtor and see what they will work out with you. It could be items they don’t want anyway.
About 4 years ago
If both parties have signed the One To Four, and it was executed and delivered, and the buyer insists on keeping them, I'm pretty sure you'll be buying those for the Seller. Hopefully, they weren't some sort of family heirloom that can't be replaced. Talk to the buyer's agent immediately and see if you can get an amendment signed right away. Were the exclusions listed on the MLS? I don't believe that's binding but you could at least point at that and say it was advertised as exclusions. Good luck!
About 4 years ago
No. All exclusions must be written in the sales contract or an amendment.
About 4 years ago
No. The exclusions listed in the listing contract do not protect your seller. Exclusions should be noted in the listing in the MLS and also written into the 1-4 contract. It is also proactive to further document any exclusions by adding photos and detailed information in an "exhibit A" that is to accompany the contract. Exclusions can become a very serious issue if not understood and clarified from the very beginning. I have experienced deals that fall apart right before closing because the buyers noticed replaced or missing items during a pre-closing walk-through.
If you are in the executory period and realized that you have an issue with the exclusions in a listing, you need to address it right away with your broker. Your broker should be able to assist you and offer guidance on handling the situation.
If you are in the executory period and realized that you have an issue with the exclusions in a listing, you need to address it right away with your broker. Your broker should be able to assist you and offer guidance on handling the situation.
About 4 years ago
The listing agreement is between the listing broker and the seller. The 1-4 contract is between the buyer and the seller. The buyer would not know about it unless you excluded the item in the MLS listing PRIOR to the offer. It should still be 'excluded' in the contract. You should discuss this with your broker immediately and/or call TAR Legal Hotline for general advice or call an attorney for specific advice. Usually addressing the mistake ASAP and looking for a solution that is agreeable to the buyer and seller is the best course of action. Again...please, contact your broker immediately.
About 4 years ago
You can add it in an amendment. It’s not too late to amend anything before closing if the other party agrees
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
Advertisement
1 answer
Resolved
Saved
