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Here are some things you need to
know about your listing in Kentucky....
COMMISSION PAYMENT TO
BUYER/REALTOR:
Most MLS systems across
Kentucky forbids placing a listing on their MLS where
there is a contingency placed on the offer of
compensation. That is to say, we can not put a
listing on most MLS systems where the seller says
they will not pay a commission to a buyer if they
are also a real estate agent.
SELLER LEGAL INSTRUCTIONS:
An instruction by the
seller requiring the buyer to have a letter of
pre-approval, proof of funds, etc is a legal
instruction, HOWEVER, according to the Kentucky Real
Estate Commission, state law requiring all offers to
be delivered without undue delay takes priority over
the seller's instruction.
If a buyer or buyer's agent
does not have the required documentation it is up to
the seller to 1. accept the offer anyway 2. Reject
it outright or 3. Counter, requiring the
documentation as a term of the counter.
SPECIAL FINANCING:
Numerous special financing
programs are available in Kentucky for lower income
and lower priced properties. Buyers making offer
frequently make a ZERO good faith offer on these
properties. It is in the interest of the seller to
accept these offers on the advice of their agent
with good faith that the transaction will close.
TITLE:
Ask us about your title needs!
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