Home Buying in Albany>Question Details

Albny, Home Buyer in Albany, NY

Does signing a buyers agent agreement mean "I" as the buyer will owe additional money above the house price?

Asked by Albny, Albany, NY Mon Jan 31, 2011

Also, if I don't find a house but my agent finds a buyer for my house if I've singed a buyer agreement am I expected to pay a months rent to my agent if I decide to rent even if she/he does not help me find that rental? Also, what if I've signed a buyers agreement and a listing agreement with the same buyer and I find we do not "click" can I get out of both agreements or "fire" him/her if we just aren't a good match? Thank you very much.

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Answers

3
Signing is easy. It is the getting out of what you signed that is difficult. Both Phil and Joe have given you good advice. Make sure that you understand everything that you sign and that you are in total agreement. If not, don't sign. If it is too late. Get an attorney.
0 votes Thank Flag Link Mon Jan 31, 2011
Hi Albny,

If your buyer's agency agreement guarantees the agent a certain commission and the house you purchase does not meet or exceed that commission then you may have to pay the difference.

For instance, if the buyer agency guarantees the agent a 3% commission and you purchase a house in which the seller is giving a 2.5% commission to the buyer's agent then the agent can possibly make you pay the 0.5% difference.

Watch what you sign and possibly seek legal advice if needed.

Regards,

Joe Finnerty
484-241-1641
Long & Foster Real Estate, Inc
Lehigh Valley Office, PA
610-865-7776
0 votes Thank Flag Link Mon Jan 31, 2011
Good Afternoon Albny;
You have a lot of "what ifs" in your question.
I would suggest that you go over each and every question with your agent prior to you signing anything.
And if you are still wary about what you are signing, I would consider consulting an attorney.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Mon Jan 31, 2011
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