Legally and ethically, it is possible for a real estate agent to represent two or more competing buyers on the same property. The real estate agent would have to disclose to all parties that there is a multiple representation situation. If you accept the disclosure, then you can proceed.
Do twin homes hold their value?
Typically, you’ll expect a twin home to have a resale value that is less than that of a single-family home. Be sure to check the neighborhood to see how owners are maintaining their property. If they all take pride in their homes, the resale should be higher.
What defines a multi-family home?
Definition of Multi-Family A building or dwelling that has more than four residential units.
Can a buyer have two agents?
Yes, a buyer can work with multiple agents as long as they don’t have a written agreement with an agent. In most areas this is called a buyer’s broker agreement or buyer representation agreement. If they decide to buy a home with another agent they may have to compensate the agent they have the agreement with.
Can a family member have a property dispute?
However, like inherited property, these joint purchase and ownership arrangements can lead to disagreement and disputes and being related by blood to a co-purchaser is no insurance against a deal going sour. Again, the assistance of a lawyer with experience in resolving those disputes involving family members over land may be required.
What happens if there is a property dispute between brothers?
Property disputes between brothers and sisters or other family members can cause hostility and long-term or permanent damage to relationships. Whether property is jointly inherited or purchased, ensuing conflict and controversy can lead to indelible problems.
How is share of co-owners fixed in jointly owned property?
In the case of long-term capital gains on sale of the jointly owned property, whether commercial or residential, each one of the co-owner shall be entitled to claim an exemption under Section 54EC, by investing the indexed capital gains up to Rs 50 lakhs. How the share of co-owners is fixed in a joint property?
Can a family dispute over land be resolved without a lawyer?
Although many families can amicably deal with these issues including making consensual decisions on the sale or continued joint ownership of land, some do not with the result that disputes cannot be resolved without the assistance of a lawyer.
