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Recent Listing Contract questions

A realtor contacted me to inquire about our land that was

A realtor contacted me to inquire about our land that was not on the market. She said I have clients interested and asked if we were looking to sell? We were intrigued so we said yes. We wound up listing the property with her. Her clients never came through and our listing ran out. Now months later she contacted us again and made an offer on behalf of her clients. There was some negotiation and to sweeten the deal she commented (via text messages) that she would drop her commission in order to make this deal work because her clients purchased the house next door to our property.We wound up dropping our price significantly and accepting their offer with "no contingencies" But they pay all closing costs. Months went by and we finally just received the contract, and to our surprise there were two contingencies; 1) a 7% commission 2) the removal of certain items that are in the the barn.We are very surprised by this but do appreciate her bringing the offer to us. However we decided to give her a 1% commission fee and agreed to remove certain items. This was not good enough for the realtor and her broker so we are now in limbo. We really would like this deal to go through but are afraid she will ask for more commission or walk away from the deal. Another concern of ours is that they might try to get the property assessed. We had much trouble in the past with assessing this property because there is a non livable structure on it and one who is interested must pay cash as no lender would give a loan for this property. This property is 4.24 acres located in Shawnee on Delaware, Pennsylvania. It's directly across from a ski mountain and can be quite desirable for the right person.My question is do we owe the realtor any more than what we have already agreed to? And if you have any advice on how to now navigate through this messy situation. Than you kindly.

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RealEstateAnswer

Juris Doctor

35,978 satisfied customers
We went with a FSBO plus, which we signed a 6 month contract

We went with a FSBO plus, which we signed a 6 month contract with a realtor to do minor things, such as an MLS and listing, but that was about far as it went. If a realtor contract expired but you kept the house on the market, merely just extending the time on the market, does the contract stipulations bind the seller?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: PennsylvaniaJA: Has any paperwork been filed?Customer: As in what paperwork, the old contract was signed over a year ago, and long expired, but we kept the sign in and just granted the renewed of time through an email, no new contract was every signed.JA: Anything else you want the lawyer to know before I connect you?Customer: Yes we went into a sale contract a few days ago, then after some consideration, we decided not to sell the homes, and terminated the sales contract, which no fees accord from that contract, but the agent wants a big commission for doing not much work, and it was another realtor that wasn't attached to them with a buyer.

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Damien Bosco

Attorney

Doctoral Degree

3,832 satisfied customers
I am on the market to buy a real estate property (house). I

I am on the market to buy a real estate property (house). I do not have a real estate agent (and at this point do not want to have one). I think the listing agent I am dealing with is not relaying the details of my verbal offer to the seller in the truthful manner (but i have no proof). Would it be legal for me to get directly in touch with the seller by-passing the listing agent and explain the offer details directly to the seller? I live in NY.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,196 satisfied customers
My sister signed a contract to list her house at the end of

My sister signed a contract to list her house at the end of March. A family came to ask if she was selling and offered to buy the house. Must she involve the realtor who hasnt even listed it or taken ics or anything yet?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: New JerseyJA: Has any paperwork been filed?Customer: not as far as i know. They have only signed the contract to list the houseJA: Anything else you want the lawyer to know before I connect you?Customer: i dont know anything else frankly. She is feeling overwhelmedd and I said i would try to help

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,196 satisfied customers
Real Estate Sales Agency Contract - Exclusion for a selected

Real Estate Sales Agency Contract - Exclusion for a selected named potential buyerWe're close to selling our house with one broker's good services. A husband & wife team whom we know, ask us for an exclusion to buy directly from us and we said yes. But a complication arises. We learn they are opening a real estate business and she is studying for her broker's license. She is a professional property manager. They can't meet the selling price of the house from within their ordinary budget - and so the situation could arise that they obtain the money as part of their business startup cost and the house should they buy it becomes a leverage into their new real estate business and they sell the house or rent it out in their business.The broker has cash investors for this buy and escrow has begun. The sale is temporarily halted to correct a problem on the property. The 'tear down' price and 'move in' price are very close to each other and the sale is stalled to that end.Please tell us if the rule of exclusion applies to the couple or if they should go directly to the broker and present themselves as buyers. My concern is that if there is an conflict to their exclusionary status as buyers that it could backfire on us and then they would be doing us no favor at all in avoiding the broker.Please tell us how to avoid trouble here and spell out the rules of exclusion for us.Thank you.

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Irwin Law

Juris Doctor JD

9,806 satisfied customers
If a listing contact expiration date is August 30th, and a

If a listing contact expiration date is August 30th, and a sales contract comes in on August 29th with a closing of September 30th, does the listing agent need to extend the listing contract to the closing date?

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Loren

Juris Doctor

43,612 satisfied customers
My listing agent and I are having a disputed on our

My listing agent and I are having a disputed on our Residential Listing Agreement- Exclusive Authorization and Right to Sell. I procured a possible buyer (my old friend) on my own before signing the agreement but did not exclude him in the Listing Agreement. The broker knew that I was planning on a for sale by owner to my friend but I was naieve to sign an exclusive listing contract with her thinking it pertained just to other brokers. My broker demands exclusivity of the listing and a commission rate at the close. The rate will entitle her to $12,000 if I get my asking price. Listing agreement is for 12 months.She also said that if I decide to do a for sale by owner with the possible buyer/my friend found before the agreement, she will charge me $2500 to handle the paperwork or if I chose not to have her involved at all. She is basically threatening me that she wants compensation due to the exclusive listing and wants $$$ regardless if she finds the buyer on her own or not. The listing is temporarily withdrawn due to our dispute but the broker has not forgotten that she is entitled to $$ if as she says I do the for sale by owner behind her back.I'm not planning on working with a new agent/broker to look for potential buyers. I would possibly like to continue the for sale by owner process with my friend and accept paying the $2,500 payment to the broker if the sale does close.My question is, do I need to disclose this during the sale process to my broker. Since it's not guaranteed that my friends fha loan will meet the underwriting guidelines of the sale, I am afraid of paying $2,500 regardless of the sale closing or not. Do I list the $2,500 payment to the broker on escrow or do I write her office a personal check after the close? Can the broker find out about this sale other than me telling her?

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RealEstateAnswer

Juris Doctor

35,978 satisfied customers
After 3 days of signing an Exclusive Residential Listing, I

After 3 days of signing an Exclusive Residential Listing, I decided not to sell my house. I don't trust my broker but she won't terminate my agreement. She refuses to an agreement.JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: CaliforniaJA: Has any paperwork been filed?Customer: No she took the listing off mls but told me that she will keep the contract. She has a heavy accent and I was under the impression it was good for 90 days But it was written for a year with a 90 day clause. I feel betrayed by her and don't trust her. She left me a voice mail stating I am obligated to stick with the signed agreement and I must pay her commission if I sell my home within a year. She is not compromisingJA: Anything else you want the lawyer to know before I connect you?Customer: Before I signed the agreement, I excitedly told her that I already had a buyer for the home which I found on my own. My tenants in this rental property were interested in being the buyer. I did mention that I could do a for sale by owner since it is a simple transaction. She pissed me and my buyer off. I don't plan on selling but I don't want to be in a contract with her for a year

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,196 satisfied customers
Wife and I are divorcing our house is under both our name,

wife and I are divorcing our house is under both our name, can I legally stay in our home? she did try to talk me into signing my name off...

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LawTalk

Attorney at Law

Juris Doctor

37,114 satisfied customers
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