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View Full Version : Terminating Listing Agreement New York


mansionguy
04-04-2007, 04:27 PM
Please consider the following scenario. suit for the commision value of what the home would have sold for?

cyjeff
04-04-2007, 05:11 PM
Depending on the listing contract, pretty likely.

How would you feel if you did all the work, got the deal, and then your boss said, "ya know what, nevermind. We decided we didn't want the business and arent' going to pay you"?

Take your agreement to a real estate lawyer.

steve50
04-05-2007, 10:21 AM
A Seller can put his home on the market for an asking price. This is not an offer but an 'invitation to treat' (legal speak). A potential Buyer makes a formal written offer for the asking price. The Seller is under no obligation to accept the offer and as in your circumstance, can decide not take the home off the market.

The Seller's potential problem is with the real estate agent. Typically listing agreements require the Seller to pay full commission if the Seller refuses to accept a bona fide offer for the list price.

If I was the real estate agent I would want at least some compensation for the work already done - this is only fair.

Steve @ www.buyingahouseandsavingmoney.com

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