Home Selling in Missouri>Question Details

Mlbfan7, Home Seller in Missouri

The realtor and buyers contract expired. Can they still buy the house? Does the realtor still get commision?

Asked by Mlbfan7, Missouri Tue Mar 15, 2011

Our realtor and buyer's contract expired at the end of last month. It was contingient on the sale of their house. We are now listing FSBO. The buyer just contacted me to see if we are still interested in selling. Are we still obligated to pay the realtors who handled the now expired contract?

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Very likely you do. You should read your contract and consult a lawyer before moving forward. Buying and selling a home is usually one of the biggest financial decisions of your life. It is so important to be represented throughout the process there are so many things that can and do go wrong. Buyers and sellers make many costly decisions that could be avoided with representation.
1 vote Thank Flag Link Tue Mar 15, 2011
Please consult a Real Estate Attorney! If the Agents feel that you and the Buyer conspired to let the listing run out to avoid paying commissions and to allow the Buyer to get a price reduction, they may want to seek commissions and could possibly win. I.m sure there's nothing to it, but, it' sounds strange that a month has barely passed and you two are talking about another agreement. An Attorney can help sort out all the details and advise you on the next steps.

Getting an offer is just the beginning. You need to know all the twists and turns involved in getting a home to the closing table. An experienced Realtor is worth their weight in gold at this point. I compare it to needing by pass surgery and deciding to let a general practice doctor do it because he says he thinks he's up to the challenge.and has watched a video or 2 about it. Lots of luck! It might be a success but is the risk worth it?

Did the Buyers sell their home yet? If not, please considered how, tying your home up several more months, could affect you. When a home is tied up on the market for any lenght of time wihtout closing, people tend to think that somethings wrong with it. Getting it sold becomes more difficult as time goes on..
0 votes Thank Flag Link Fri Apr 8, 2011
Short and sweet -- check to see if there is a realtor protection period on your listing agreement, during which time you will still be obligated to pay a commission if anyone who saw your home while it was listed buys it.

These people didn't just "see" it,...they made an accepted offer on the home.

It's only been a month - I woulf think (and hope) that the agents involved would still be able to collect their commission - afterall, they did bring you together, and it if weren't for the sale contingency, it would have been a done deal.

By the way - did they sell their house, or is it still a contingency?
0 votes Thank Flag Link Wed Mar 23, 2011
Mlbfan, To be perfectly sure, you should contact the attorney who will be handling the closing for you. That is the best person to give you advice.
0 votes Thank Flag Link Tue Mar 15, 2011
It depends on how your contract was written up. Here in Idaho, our contracts have a provision for buyers that were introduced during the listing period. When in doubt, an attorney should be consulted.
0 votes Thank Flag Link Tue Mar 15, 2011
Review your original listing/commission, and any expiration dates--the answer as to if any commission owed can be found in it--consider contacting your agent for any necessary guidance/related paperwork, etc., and don't worry too much about the commission, there is much that will need to be done in order to get you to the closing table.
0 votes Thank Flag Link Tue Mar 15, 2011
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