QUESTION
how long can a real estate agent hold you for commision after you have dismissed them
Asked on May 21st, 2014 on Residential Real Estate - Florida
More details to this question:
I want to sell to a buyer on my own after i fired my realtor because they could not get thier mortgage due to the fact that the realtor set my price to high and therefore they could not get a mortgage for my house because it didnt appraise for the price my agent had me list it at ... i dropped them and the people still want to buy my house....my contracts says 30 dayafter the expiration date but i ended the contract early
1 ANSWER
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It all comes down to the contract. And I’ll tell you, be cautious – realtors are notorious for popping up out of seemingly nowhere wanting their commission…even if you haven’t heard from them since giving notice that you wanted out of the contract. The contract should have provisions that dictate what happens if you “cancel” the contract before the end of the term. You’ll likely find that it is worth the money to hire a lawyer to review the contract and give you legal advice based on that review before proceeding. You may be fine, but I’ve seen these situations go badly. Last thing you want is to find all the revenue from the sale end up being spent on litigation.
Answered on May 22nd, 2014 at 3:31 PM