Kan. Admin. Regs. § 86-3-23

Current through Register Vol. 43, No. 46, November 14, 2024

Section 86-3-23 - Submission of offers to purchase

(a) A listing agreement may provide that the broker is not obligated to continue to market the property after an offer has been accepted by the seller. The seller's acceptance of an offer shall not terminate the obligation of the broker to submit all offers to the seller unless the seller instructs the broker in the listing agreement not to submit offers after an offer has been accepted by the seller.

(b) Unless a subsequent offer is contingent upon termination of an existing contract, the licensee shall recommend that the seller obtain the advice of legal counsel prior to acceptance.

Authorized by K.S.A. 74-4202(b); implementing L. 1992, Ch. 120, section 1; effective Jan. 11, 1993.