Would we still have to pay our realiter a commsion. We have a contract through her until october. Someone else wants to buy it and will do all the paperwork and pay closing costs.
2007-05-10 01:55:06 · 5 answers · asked by brenie27 3 in Business & Finance ➔ Renting & Real Estate
When you list your home for sale you can state in the contract that there are specific parties that you would like to "exclude" from the listing. These people can purchase your property and you will not be required to pay a commission. This must be done at the time of the listing. However, if your home is still under "contract" with the real estate company, a commission will be paid. Is the someone else an investor or another Realtor? From your statement that they will do the paperwork and pay your closing costs sounds like they know the industry. Also, I have never heard of a buyer paying the seller's closing costs, usually the other way around. You can always wait until your listing expires, but I think if you cancel it and sell it right away I think your agent might still have a claim to a commission. Also, be cautious and check you final bottom line, you might be netting the same amount with each type of transaction because my guess is the party trying to purchase is discounting your sales price by a commission.
Remember, they knew your home was for sale due to the fact that you had it listed, therefore your Realtor has done their job.
2007-05-10 02:33:06 · answer #1 · answered by mrsfoster 2 · 0⤊ 0⤋
Yes, you will still have to pay your Realtor. Most contracts also have a clause stating that if you sell your house within so many days after the contract expires and it was because they had it listed then you will still have to pay. My suggestion is since you are going to have to pay the Realtor you might as well have her do the work. Tell her you have a buyer and she'll take care of the sales contract and getting the house to closing. It's better to go ahead and sell the house now and pay the commission than to fight it or wait until the contract expires.
2007-05-10 09:32:30 · answer #2 · answered by angela 6 · 1⤊ 0⤋
Many "investors" find out about houses for sale through Realtor sites and even the MLS, or simply the Realtor's signs in yards. They then go directly to the seller and try to get them to cut out the Realtor (who's advertising efforts actually secured the buyer). They know how to do all the paperwork since many of them are or were licensed agents.
If they are willing to do something this underhanded to the Realtor, how ethically do you think they'll be treating you? And if you're willing to do something this underhanded to your Realtor - well, you deserve that buyer to treat you unethically....
2007-05-10 13:22:34 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
read you contract that will be the controlling factor but in general you will have to pay seller agent their commission or wait until October to sell
2007-05-10 09:44:41 · answer #4 · answered by goz1111 7 · 0⤊ 0⤋
depends on the contract but my guess is yes. Your realitor gets paid no matter who finds the buyer.
2007-05-10 08:59:03 · answer #5 · answered by joe w 2 · 1⤊ 0⤋