Home Buying in Fort Myers>Question Details

donna_smith8…, Home Buyer in Fort Myers, FL

Seller has home thru a realtor and 6 mon in decides not to sell. Are they still legally tied to the realtor ?

Asked by donna_smith806, Fort Myers, FL Sun Dec 22, 2013

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11
Depends on what contract you signed, who seen the house while under contract. You can be legally obligated.

Good luck

Ronald (Realtor Ron W) Wolchesky
239-209-192
realtorronw@yahoo.com
0 votes Thank Flag Link Tue Dec 24, 2013
It depends on the contract, but typically a listing agreement can be cancelled at anytime. There may be some provisions or fees in the contract for early termination. There could also be provisions that compensate the agent if it is sold to someone after the listing has expired but who had showed interest during the time that it was listed. It all comes down to what the contract says.
0 votes Thank Flag Link Mon Dec 23, 2013
Most listing agreements are for six months. The seller needs to carefully check his/her listing agreement. The expiration date for the listing is clearly stated. If the listing agreement made with the real estate agency has expired, they are under no obligation to that particular realtor.
0 votes Thank Flag Link Mon Dec 23, 2013
The seller would have to refer back to the listing agreement made with the agent/agent company. Good luck.
0 votes Thank Flag Link Mon Dec 23, 2013
Ask your Realtor or consult an attorney.....
0 votes Thank Flag Link Mon Dec 23, 2013
There are 2 ways of taking an unsold listing off the market before the listing expires. Terminated cancels the listing - usually so the seller can list with another company and withdrawn which DOES-NOT cancel the contractual obligations of the listing agreement..
0 votes Thank Flag Link Mon Dec 23, 2013
Any seller may terminate their listing agreement at any time. Some Realtors may try to install an early termination fee as part of their listing agreement. Review your listing agreement to see if there is any such clause.
0 votes Thank Flag Link Mon Dec 23, 2013
Most listing agreements do have a clause that protects the agents after the contract ends. If you are the seller,simply read your agreement and see what it says.
0 votes Thank Flag Link Mon Dec 23, 2013
The seller should have a copy of the listing agreement they signed and that agreement should clearly state the effective date (starting date) and the expiration date of the listing. It will also show the "protection" period which covers the topic of the seller selling the home during a specific window of time after the expiration of the agreement to a buyer who was introduced to the property when the listing agreement was still in effect. The seller should carefully review the listing agreement regarding this situation and consult with an attorney if the paperwork isn't clear.
0 votes Thank Flag Link Mon Dec 23, 2013
Depends on the terms of their listing agreement. Our listing agreements have a cancellation penalty. If the seller receives a full price offer from a buyer protected under our agreement, the seller would be obligated to pay the agreed upon commission whether or they consummate the sale. Under no circumstance is a seller required to respond or even acknowledge an offer under list price. Hope this answers your question. Please call me if you have any concerns.
0 votes Thank Flag Link Sun Dec 22, 2013
depends on contract
What does it say?
0 votes Thank Flag Link Sun Dec 22, 2013
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