Quote:
Originally Posted by Spoon
Source: https://www.straight.com/news/vancou...at-only-828800
[Update: After this report went live, a social media post stated that the property’s title was tenancy in common, which means combined ownership. The post also stated that the purchase price of $840,000 was for half of the property. The Straight's account was based on the listing, which did not mention the nature of the ownership and that half of the property is for sale. The report will be updated further when more information becomes available.] |
Tenancy in common is usually for non married owners. With Joint Tenancy there's a right of survivorship but Tenancy in Common, each owner can do as they please. Sell/Rent/will to anyone.
Quote:
Originally Posted by westopher
It’s not illegal, but it should be. Any offer at or above asking price should be legally binding. This isn’t fuckin eBay.
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If it's not signed by both sides, there's nothing legally binding.
Quote:
Originally Posted by Hondaracer
I was under the impression you cant basically request an amount on top of asking, nor can you reveal the number of offers until after the sale is finalized? Maybe im wrong though
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Correct. Can't ask for "X" amount on top and can't reveal other bidded numbers (which media is saying put a stop to "blind bidding" should be transparent bids) .
You can however reveal how many bids there are but the slimy/dirty tactic is to ask all bids to resubmit their offer with a better number. That's not illegal but ethics is questioned. How this listing agent did was well within ethics as in not starting a bidding war between the 17 offers