Valid Contract

Dennis Cranford

I am general contractor in Oregon. I have been contacted by a local realtor and asked to quote renovation and remodel on two bank owned properties. When my quotes were approved, I submitted a written contract and the other notices required by Oregon law. I then received a call from the realtor stating that the bank (property owner) will not sign the contract but that she as an agent of the bank should sign the aggreement. As the realtor has no real connection with the owner can this be a valid and binding contract? Is this standard operating procedure
for REO properties or am I being put in jeoprady if I agree to proceed?

KentWhitten

Whoever hired you and is going to pay you are the ones that need to sign your contract. This is no different than a sub with a contract to the GC.

If it is the bank, then that would make me nervous. They know how to play the game all too well.

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If you correct your mind, the rest of your life will fall into place ~Lao Tzu

Custom Cabinetry - Portland, Cape Elizabeth, Scarborough, Kennebunkport, Yarmouth, Falmouth, Cumberland, Ogunquit, Maine

Salmon Falls Cabinetry

Double-A

That is a question for an attorney, but I would ask how the phrase "as an agent of the bank" is being used. Is she contracted with the bank to act as a project manager on these renovations? Is she acting as the 'general's' general contractor?

If she is truly an 'agent' for the bank, then she should present some bona fides from the bank. In other words, a letter from the bank stating that she has the authority to hire and oversee this work.

I'm not an attorney, but these are the first few things that pop into my head.

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"My clients’ wishes are the center of my attention." -- David Guido, a contractor in Woodstock, N.Y.
New York Times, July 20, 2006

Zinsco

There is a legal concept called "Agency" and I do believe in this instance the real estate agent is representing the bank, if this is not the case, then she can pay the invoice.