Seller with a question

What is the name of your state? PA

We have had our home on the market for 4 months (approx). My husband was forced to accept a position out of town due to layoff. We have had no activity in terms of offers on our home until now. My husband, in the meantime, has been trying to seek employment in our current town (since our home was not selling). Two days ago we received 2 offers on our home. Our concern has everything to do with timing. He has had an interview, but there will most likely be a second and final interview within the next 2 weeks. What, if any, liability is there on the part of the seller should he/she back out of an accepted offer on the home. Keep in mind we have not even finalized negotiations on the property. However, we want to be certain we can protect ourselves and our property should the employment opportunity work out.

[HomeGuru]

Originally Posted by hereorthere

What is the name of your state? PA

We have had our home on the market for 4 months (approx). My husband was forced to accept a position out of town due to layoff. We have had no activity in terms of offers on our home until now. My husband, in the meantime, has been trying to seek employment in our current town (since our home was not selling). Two days ago we received 2 offers on our home. Our concern has everything to do with timing. He has had an interview, but there will most likely be a second and final interview within the next 2 weeks. What, if any, liability is there on the part of the seller should he/she back out of an accepted offer on the home. Keep in mind we have not even finalized negotiations on the property. However, we want to be certain we can protect ourselves and our property should the employment opportunity work out.

**A: and what did your Realtor tell you?

Our realtor has brought in one of the buyers and we haven't addressed the issue with her yet. We weren't sure that the job thing would proceed forward so we hadn't mentioned it. I would like to be able to structure the deal so that we will sell contingent upon not getting the job. However, I am afraid the realtor will want to be paid commission regardless. I would like to know if anyone knows if I have to pay realtor commissions if I refuse to sell and the realtor brings in an offer at my list price? or if we back out of a deal once we agree to a price. We are not looking to undermine our agent. I know she incurred the costs of marketing, but those cost don't amount to 3% of the sales price.

[PghREA]

What is your relationship with your agent? Hopefully, she is your new best friend (during the listing period.) I think you need to discuss this with your agent. The rules state that the agent is owed a commission if she brings in a "ready, willing and able" buyer who is offering full price. Frankly, I don't know any agent who has tried to enforce the rule but, that's not to say, it wouldn't happen. If you were to accept an agreement and then decide not to sell, you don't know how the buyer will react or what he may do. If I were you, I would withdraw the home from the market for a few weekss until you know the situation with your husband's job.