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A real estate agent lists a house for sale. The house is destroyed by fire. What happens to the relationship between the owner and the seller and the listing agent?

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User Zenab
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1 Answer

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Final answer:

The relationship between the owner and the seller, as well as the listing agent, can be affected if the house is destroyed by fire while it is listed for sale. According to the possession clause, either party can cancel the agreement and have no further liability to each other if the house cannot be delivered to potential buyers.

Step-by-step explanation:

In the case of the house being destroyed by fire while it is listed for sale, the relationship between the owner and the seller, as well as the listing agent, can be affected.

According to the possession clause mentioned in the reference information, if the owner is unable to deliver possession of the residence to potential buyers due to the destruction of the house, the agreement can be cancelled by either party with written notice. In such a case, both the owner and the seller would not have any further liability to each other, and any money paid under the agreement would be refunded in full.

Therefore, if the house is destroyed by fire, the owner and the seller would have the option to cancel the agreement and terminate their relationship.

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User Finrod
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