My house has been on the market in Oregon for four months and it hasn't sold yet. I have decided to refinance the home and stick it out for a few more years. Do I owe the realtor anything for cancelling the listing and refinancing instead?
2006-09-22 03:08:33 · 8 answers · asked by JoJo 1 in Business & Finance ➔ Renting & Real Estate
Ditto...from the ones above, Best bet is to simple let the listing agreement expire and they normally you don't owe them anything but thanks for nothing. Not a great selling time frame and be prepared for a request for a re-list. On the other hand good realtors will just let the listing go for good relation and a request that if you do decide to sell to re-list with them. Doesn't hurt to ask!
2006-09-22 03:19:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the contract doesn't specify a fee for services even if the house is not sold, then you don't owe any money to the Realtor. If the commission was based on the sale of the house and the house does not sale, then the Realtor is not entitled to a commission. Just check your contract and make sure that you didn't sign an addendum as to pay for services rendered even if the house doesn't sale, because some Realtors are smart enough to put that in the contract, but if not in the contract you don't have to pay. Simply send a letter to your Realtor stating that you want to withdraw the home off the market and then you are free to refinance and get some money from the equity of the property. If you plan to use another Realtor, you should wait for more than 60 days to do so to avoid paying a commission if the new Realtor sell the property. Best wishes.
2006-09-22 03:32:26 · answer #2 · answered by Juan V 1 · 0⤊ 0⤋
Ask the realtor if the listing is up she/he will be glad to tell you. But you are doing yourself an injustice by taking your house off the market. If you want to get what it's worth you will leave it on the market. I used to sell real estate and I can tell you from experience that if you are serious about selling your house if you want to get the right price for your house; you need to leave the house on the market for up to 1 year.
Usually it doesn't take that long and it's possible that the price maybe a little high and need to be reduced. Most houses don't sell until they reach that 4th month anyway. Ask your realtor to do another CMA and see where your house is compared to the others on the market. Real Estate needs time to sell if you get the right price. If your property had sold too quickly that may have meant that your property was priced too low. I would suggest you stay with that realtor. I always got the most for my property by leaving the house on the market that extra month or so. I kept up with the market property comparables that sold with the same square footage in the same area so I would know when mine was the next one left. Make your realtor work for you. Tell them to let you know what the last people said that looked at your house. Ask them to change the old ad or hold an open house.
2006-09-22 03:29:20 · answer #3 · answered by Busy Lady 2010 7 · 0⤊ 0⤋
Read your contract, In most cases the Realtor will just cancel the contract unless they have a pending sale.
If you don't get your contract canceled and the Realtor gets a buyer you will owe the money even if you don't consumate the deal, if the Realtor gets a buyer that means payday...
Good Luck,
Good Luck,
2006-09-23 09:29:08 · answer #4 · answered by semi273hemi 4 · 0⤊ 0⤋
the broking will pay the realtor costs. All you care approximately is getting your value on the abode, impressive? you're able to do properly to have your person agent to be sure you're protecting your self. in case you bypass in without an agent, the itemizing agent gets all the fee and that they do no longer characterize you or your interests in besides. in case you will use an agent, use a consumer broking provider. in any different case, despite in the event that they seem to be working for you, they are quite working for the broking. you prefer your agent to have your interests as their impressive precedence interior the transaction. sturdy success. p.s. despite if the broking is paying the brokers from the proceeds of the sale, you're paying the brokers fee simply by fact the charges are coated interior the sales value. authentic.
2016-10-17 10:56:24 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Read your contract. Chances are if you went with a full service REALTOR you will owe nothing but your contract is the place to find your answer.
2006-09-22 12:40:50 · answer #6 · answered by Karen R 3 · 0⤊ 0⤋
Read your contract. When does your listing expire? Talk with the Broker about the policy for cancelleation. Good Luck
2006-09-22 03:13:08 · answer #7 · answered by Jimmy 5 · 0⤊ 0⤋
It depends on the contract you signed with the Realtor. Some do some don't. Please take a detailed look the contract. Hope this helps.
2006-09-22 03:15:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋