That's exactly how it works. You don't normally write a check to the real estate agent. Normally, any fees you owe for the transaction simply are deducted before you receive proceeds from the sale.... more
Wow....it's funny how no one has actually answered this questions correctly. If you are advertising on the MLS(there are flat fee brokers that will put your property on the MLS for a flat fee up front and you do all the work) that you are paying a buyers agent and a realtor is buying the home then yes they are entitled to receive a comission. In Florida a realtor buying your home is required to disclose that they are a realtor. If you advertise it somewhere other than the MLS and have no contractual agreements to pay a commission to a buyers agent then you don't have to pay anyone. I have shown properties next to for sale by owners.....have knocked on their door and asked them to sign something saying that they will pay me a commission if my buyers buy the home. If they sign it then I show it.....if they don't then I won't show it as there is nothing securing my pay for the work rendered. So if you don't have it on the MLS and you don't have anything in writing then you owe nothing to anyone.
Eric Chavarria P.A.
Future Home Realty Inc
If there is a question about commission, it should be put in writing with a confirmation of agency and commission form. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.... more
You need to speak with a bankruptcy attorney. Your legal right and ability to file for Chapter 7 Bankruptcy is not related to your ability. or not, to short sell your home. The house will become part of the bankruptcy estate and will be dealt with following the bankruptcy laws in your State.
Get yourself professional advice. You will be able to sleeo at night.
Where can we see your listing?? The home being on the market for 2.5 months is nothing for our area...I think the average is waaaay over a year. Yes the numbers may less than that but it does not take in to consideranion being listed with another agent or agents and maybe even for sale by owner before that!! The home sounds very nice but the value appraisers are giving for the lower level no longer is even 50% of the main level. Consider a price reduction be below your market competition, not with it! Your square footage on a main and a lower level is not competition with one that is on two stores or one level. You may need a new market analysis to stay current with the most recent sales which are probably lower than when you first listed your home. If the basement bedrooms do have closets and do have windows they can be counted as bedrooms, otherwise they can not. the basement square footages are being counted now at about $20-$25 a square foot....... more
Merri, yes our market too is down from the peak in 2006 and part of 2007. I have been actively on top of it all going to real estate related meetings to see what the "experts" feel is going on. This is how I can prepare expectations for any seller or buyer. EVERY neighborhood is different, of course, and that is how we must create our market analysis in preparing a price for any particular home in the WS area. According to a local reknowned appraiser of land, home and business properties, the values overall are at 2003 or 2004 prices. Of course your neighborhood could be different and we could determine that by creating your personal analysis on the most recent sales in your area and what your competition looks like. This month, I am having two properties sell and another one in January. You may want to think about getting your home on the market sooner rather than later, because in the spring the flowers are not the only thing popping out of the ground...so are the real estate for sale signs!!... more
I just ran a market analysis yesterday and the average DOM (days on market) decreased from 112 in November 2008 to 89 in April 2009. This was for the SW Forsyth County area including zip codes 27103 and 27012. Prices decreased by 12% over that same six month time frame. That is the main reason for the shorter DOM we are currently experiencing.... more