Land Contract after failed financing

What is the name of your state? Ohio
I'm selling our house and had an offer go all the way to closing only to have financing fall through for the buyer's. They were pre-qualified but are still in grad school and don't have enough work history. During the closing process my contract with the realtor expired. Yes, the house was listed with a realtor. I'm in my second house and paying two mortgages and I'm willing to offer a land contract to the buyers who might have enough work history in a year or so. Question is....since the contract is up with my realtor can I just tell her that I'm going to take my house off the market and rent to the buyers, or would I have to pay realtor fee's through the land contract? Any thoughts? I do have the option to put the house back on the market and hope it sells fast to a qualified buyer. It's been on the market for 90 days so far.

[Souix]

Originally Posted by Hatter

What is the name of your state? Ohio
I'm selling our house and had an offer go all the way to closing only to have financing fall through for the buyer's. They were pre-qualified but are still in grad school and don't have enough work history. During the closing process my contract with the realtor expired. Yes, the house was listed with a realtor. I'm in my second house and paying two mortgages and I'm willing to offer a land contract to the buyers who might have enough work history in a year or so. Question is....since the contract is up with my realtor can I just tell her that I'm going to take my house off the market and rent to the buyers, or would I have to pay realtor fee's through the land contract? Any thoughts? I do have the option to put the house back on the market and hope it sells fast to a qualified buyer. It's been on the market for 90 days so far.

***Yes you will owe a fee to the Realtor if you sell to these same people under a land sale contract. Read your Listing Contract under the paragraph, "Right To Compensation"***

[HomeGuru]

I agree, the Realtor is due a commission even if the listing has expired.

Thank you for your help. I thought that the realtors were entitled to commision but wanted to make sure.

[HomeGuru]

It's all about the $$$$$$$$.