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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2242
Experience:  Experience in residential real estate and commercial leases.
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In North Carolina, once my broker contract has terminated,

Customer Question

In North Carolina, once my broker contract has terminated, do i still need to accept reservations the broker is trying to transfer to me?
Submitted: 1 year ago.
Category: Real Estate Law
Customer: replied 1 year ago.
BTW, I am the landlord. We have started managing the rentals ourselves. There is no property transferred involved.
Customer: replied 1 year ago.
They want to transfer to me so they don't have to process the cancellations and they can retain their commission. However, it's been 10 days since since termination, and they have yet to properly send us the tenants deposits for their reservations.
Expert:  J. Warren replied 1 year ago.
Hello and welcome to JustAnswer. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.If the contract has terminated then the obligation of the contract terms is over. However, accepting reservations past the expiration may be deemed as the parties have agreed the terms continue. It is best to provide the other party written confirmation that the broker agreement is terminated and as such under no further obligation to continue and will not do so in the future. All my best and encouragement. Thank you for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! Please press a positive rating above this message box in the ratings section so I will be paid for my time assisting you on this matter. Pressing a positive rating will not cost any additional money - it is simply the trigger used by Just Answer to pay me for my time (pressing the middle star or the fourth or fifth star on the right are all positive rating buttons).