Todd, Home Buyer in 44039

Foxtons OUT OF BUSINESS!

Asked by Todd, 44039 Thu Sep 27, 2007

I have an expired listing with them! Do I Still have to pay them anything because a potential buyer walked through their listing while it was active?

I cant get in touch with them. Main # says closed! I believe I am free of everything from them and out of my holding clause since they are CLOSED!
Please confirm

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Answers

10
Todd, Home Buyer, 44039
Thu Sep 27, 2007
Agent called me about 5x total if that during 6month listing. He called once for offer made. He never called back to give me counter offers. Later found out buyer made counter offers when she called me direct after expiration. He called me 2 weeks AFTER listing expired to tell me listing expired 2 weeks ago. Always answered phone - What do you want now? Same way answered to potential buyer.
1 vote
J R, , New York, NY
Thu Sep 27, 2007
Todd, did you have an agent at Foxtons? Did they even HAVE agents. I mean if Century 21 for example, went out of business and I was a listing agent, I would still have a relationship with my client. I guess this is really a graphic example of YOU GET WHAT YOU PAY FOR. This is what happens when people try to go cheap.
1 vote
Silvia Miceli, Agent, Toms River, NJ
Thu Sep 27, 2007
Hi Todd,

Do you have a buyer now that had viewed the property while the listing was active? If so, you should have your attorney review the listing agreement. Many times listing agreements have clauses in them saying just that "if a deal is made within--- days after the listing expires, with a buyer who was introduced to the property while it was listed, they are entitled to receive a commission. Therefore, the best thing to do as others have already said is to have your attorney review your listing agreement and advice you on it. Yours had already expired. I understand they had something like 4,000 + listings.

It is a shame for consumers that happen to be affected by this situation.
1 vote
Todd, Home Buyer, 44039
Thu Sep 27, 2007
Yes, that is my situtation. My attorney did review. He said there is nothing he can do but to move forward with sale. We cant pay any commission to something that does not exist. No phones, no contacts answering. Nothing. We are not going to hold up the sale for days/months/years to hear back from Foxtons!!
Hahahah

So glad those jerks wont get my money! They didnt deserve a penny.
0 votes
Deborah Madey, Agent, Brick, NJ
Thu Sep 27, 2007
It is unfortunate that you have had such challenges along the way, even prior to yesterday evening's announcement.

It does seem that you need to completely rely on your attorney now, as these types of circumstances that you have now with Foxtons closing are out of the realm of what we, as Realtors do on daily basis.

I so wish you smooth sailings from this point forward. You have an attny, a buyer, and are prepared to pay Foxtons at closing, if appropriate. So, sincerely, best of luck after all you have been through!
0 votes
Todd, Home Buyer, 44039
Thu Sep 27, 2007
I am UNABLE to reach anyone! My agent, my sales manager, and HQ is closed. How can I do anything when they are closed??? Also, the HQ in NJ was looted by the employees.

I am also NOT a CURRENT customer. My listing EXPIRED. If I cant get in touch with anyone and the HQ says it is CLOSED, how possible are FOXTONS entitled to anything?!? Im going to WAIT on the sale for Foxtons to answer the Phone? Thats ridiculous!

My attorney is putting in writing - foxtons was closed at time and unreachable due to closing. IF in the future foxtons does come back, my client will be responble for any dues owed if needed
0 votes
Deborah Madey, Agent, Brick, NJ
Thu Sep 27, 2007
Foxton's HQ are within a few miles of my office and the greatest concentration of their business is within the central jersey area, although they are licensed in a few states.

Foxtons currently shows 413 active listings in just one MLS.

The following is not legal advice, but it would how I would handle it. Verify all with your attorney. Foxtons concern will be their "commission" and you might be responsible for paying it. Your attorney can write a sales contract for you. Proceed with your sale. Be prepared for the a possible claim from Foxtons for their commission. At the time of closing, have your attorney advise you of how to proceed. Foxtons offices can only be chaotic today. In just 2 counties, they have 413 active lisitings, and 23 under contract. It will be challenging to get a 'letter' from Foxtons today.

Wrtie out all of your notes today, while the memories are fresh in your mind and can be more accurately reported. Write out your notes about who you spoke with, what was said, dates, times, etc.

Your challenges with Foxtons (not inclusive of today) are commonly expressed complaints by other current and former Foxton clients.
0 votes
Maureen Fran…, Agent, Birmingham, MI
Thu Sep 27, 2007
I read that Foxtons was keeping a small staff to service its existing clients. I would say you have to pay them, if that is what you agreed to. If they still have a valid license in your state, you owe the money. But I am not an attorney. Your attorney is better qualified to answer this.
Web Reference:  http://mioaklandcounty.com
0 votes
Todd, Home Buyer, 44039
Thu Sep 27, 2007
My attorney wants something in writing from Foxtons stating this will be a private sale. Remember- buyer walked through under foxtons listings..So, Im now concerned buyer will be concerned because she is an agent herself and does not want to get in trouble for going against foxtons. But, foxtons (when they were in business) said no problem - we will write you a letter stating 2% is owed upon closing.

Well, now I cant get this letter. So, what should the Lawyer do? Write any of this in contract stating we did try to pay commission? Or just leave it as is - private sale?
0 votes
Todd, Home Buyer, 44039
Thu Sep 27, 2007
Out of BUSINess for GOOD!!!!! Lay off'ed 90% plus of staff. Gone... Outta here. Former employees received an EMail Last night stating out of job..How horrible!!! What a horrible company!
Here are 2 links:
http://www.app.com/apps/pbcs.dll/article?AID=/20070927/NEWS/…
http://www.topix.net/forum/source/newsday/TFD45Q4V8V0GGIDE3
0 votes
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