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  #1  
Old 04-21-2003, 06:53 PM
LookingForAHome
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Bound to seller's realtor if they switch to For Sale by Owner after listing expires?


What is the name of your state? NJ

I recently put in an offer on a house. I had my realtor contact the seller's realtor. We were unable to come to an agreement on price. The seller's listing is up soon with their realtor, and I think they are going to be doing a For Sale by Owner. Am I allowed to buy the house this way, or will the seller be obligated to pay his prior realtor for commission? If that is the case, chances are that he will just sell it to someone else who doesn't have that stipulation. Any help is greatly appreciated.

Thanks,
Rich
  #2  
Old 04-21-2003, 09:19 PM
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Re: Bound to seller's realtor if they switch to For Sale by Owner after listing expir


Quote:
Originally posted by LookingForAHome
What is the name of your state? NJ

I recently put in an offer on a house. I had my realtor contact the seller's realtor. We were unable to come to an agreement on price. The seller's listing is up soon with their realtor, and I think they are going to be doing a For Sale by Owner. Am I allowed to buy the house this way, or will the seller be obligated to pay his prior realtor for commission? If that is the case, chances are that he will just sell it to someone else who doesn't have that stipulation. Any help is greatly appreciated.

Thanks,
Rich
**A: it all depends on the terms and conditions in the listing contract. Have your agent do some homework.
  #3  
Old 04-22-2003, 06:59 AM
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Location: Saginaw, MI
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obligated to the seller's realtor


You're not obligated to the seller's realtor no matter how you buy the house. You didn't sign any listing agreement.

The Seller may be obligated to his realtor, but that's his problem.

Now, you may be obligated to your realtor. Did you sign a buyer/broker agreement?

If not, then you still may have a moral obligation. Don't forget who hooked you up with the seller.
  #4  
Old 04-22-2003, 08:19 AM
LookingForAHome
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The seller's agent was by far the worst realtor I have ever dealt with. He was very unprofessional, often taking days to get back to me. They would not let my realtor present an offer, he would only look at faxed offers. I had to hunt him down, I didn't find the house through him. I have no moral obligation to their slimy realtor, I'm just worried that if they decide to sell it by owner, they'll sell it to someone else that won't bind them to having to pay a commision to their ex-listing agent. So I guess my question is, if I have already bid on the house, does that force the seller to pay his ex listing agent a commision if I by it through the owner or another realtor? Thanks so much, I can't figure out what to do.
  #5  
Old 04-22-2003, 09:43 AM
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It depends


If you complete the current transaction, even though the listing has expired, the seller will have to pay his realtor. It has nothing to do with you.

If your current transaction ends, and your Realtor lists the home, and then you buy it through him, there is no obligation to the previous Realtor.

The Realtor may appear to be slimy, but he doesn't work for you.
  #6  
Old 04-22-2003, 11:08 AM
LookingForAHome
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I think the seller is going the for sale by owner route. Will he owe his realtor commission if he sells it to me? He rejected my offer, so is that transaction considered "dead"? If I place an offer on his for sale by owner house, is that a continuation of our transaction, or a new transaction? Thanks.
  #7  
Old 04-22-2003, 11:27 AM
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Location: Catatonic State
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Quote:
Originally posted by LookingForAHome
I think the seller is going the for sale by owner route. Will he owe his realtor commission if he sells it to me? He rejected my offer, so is that transaction considered "dead"? If I place an offer on his for sale by owner house, is that a continuation of our transaction, or a new transaction? Thanks.
**A: you keep asking the same question in each post. I refer you to my first response.
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