I signed a contract on a property with one contingency being that I approved the home inspection. The inspection showed the house was a lemon and I backed out of the contract.
I feel guilty because the real estate agent spent a lot of time with me looking for properties, doing market comps, and other related activities.
Should I send the realtor a check as a thank you for spending time with me even though the deal fell through? If so, how much would be reasonable?
2007-06-02 12:29:46 · 8 answers · asked by MthrNatures_Son 4 in Business & Finance ➔ Renting & Real Estate
You do not owe the real estate agent anything. This is a cost of doing business. Appraisers, surveyors, title companies, real estate attorneys, and others in real estate traditionally "eat" these expenses. The sales agent is no different.
2007-06-02 14:38:14 · answer #1 · answered by mcmufin 6 · 0⤊ 0⤋
First let me tell you how nice it is to hear that you have such respect and appreciation for your Realtor and her time. The best thing you can do for her is let her know how much you appreicate her effort and countinue to use her to find your home. Don't feel bad these things happen and that is what a good Realtor is there for to make sure you get the home inspection, we don't want our clients to buy a "lemon" in the first place. Also sending her refferal clients would be a great way to say thank you! Congratulations on being a nice guy!
2007-06-02 20:32:41 · answer #2 · answered by Rosie 4 · 0⤊ 0⤋
i don't recognize ways the actual assets Agent is accountable. curiously Fannie Mae is accountable. The agent is largely someone working for you, the agent isn't the guy making judgements. The agent has no longer something to learn by utilising the sale being not on time or stopped, he would not gets a commission until the revenues closes. Blaming the agent is like blaming the nieghborhood mechanic for an issue on your vehicle, truly of blaming the automobile business enterprise that made it.
2016-10-09 08:19:46 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Deals falling through is part of the job, so you don't need to feel guilty. But use that realtor again to search for your next property, since it sounds like he/she did a good job.
2007-06-02 12:44:34 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
Generally, you do not compensate a realtor when a contract falls through. If you are happy with the realtor, just stick with him or her till you find a house you like.
2007-06-02 12:39:01 · answer #5 · answered by Grace A 4 · 1⤊ 0⤋
Ive been in the business for along time and I have been offerend money for what I have done. We dont expect money in these issues.
Give your agent referrals and keep using them in the future. They want your referrals 1000 times more then a check.
2007-06-02 13:19:21 · answer #6 · answered by financing_loans 6 · 0⤊ 0⤋
Why don't you send me the money instead? I could use it.
Forget it dude, dont feel bad. They knew the game when they got into it, they are adults. LET IT GO.
2007-06-02 12:47:03 · answer #7 · answered by Anonymous · 1⤊ 0⤋
You don't have to but you can send her $300 for her troubles.
2007-06-02 12:38:49 · answer #8 · answered by Himiko 4 · 1⤊ 0⤋