Asked by Codegal, 95123 • Mon Oct 11, 2010
I'm considering a short sale on my primary residence in San Jose, CA. The Realtor I've been working with sent me an "exclusive right to sell" listing agreement that specifies that the seller (me) pays 6% commission to the broker. Further down in the document, under "additional terms" he states "Seller not liable for any fees, expenses or commissions". It is my understanding that the seller does not pay commission in a short sale - the bank does. However, it worries me that the contract explicitly puts me on the hook for the 6%. The verbiage in additional terms section seems to contradict the earlier statement of liability, but I want to be absolutely certain I can't be forced to pay a 6% commission if for some reason the bank refuses to do so. My house would be listed at 500k, so that'd be $30k out of pocket.
thanks in advance.
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