Commission - FSBO vs. broker

[tttishopper]

What is the name of your state? NY

Hi. I had my house listed by a real estate company (exclusive right to sell) back in Jan and the listing expired in July. Even since then I have been trying to sell it myself. I got an offer yesterday from a buyer that actually came during an open house back in May. The contract with the real estate company stated that "if the real estate is sold, leased or exchanged within a period of sixty (60) days from the expiration of this listing or any extension thereof to a buyer introduced to the property during the term of the listing agreement, the Owner shall pay the Listing Broker the commission set forth therein....

Do I still have to pay for the commission? I was just concerned because the contract did indicate "any extension thereof". Is this clause going to be forever? I just don't want to get screwed at the end....

Thanks.

 

[moburkes]

You should pay the commission.

 

[TinkerBelleLuvr]

Did you extend the contract from July?

 

[JETX]

I had my house listed by a real estate company (exclusive right to sell) back in Jan and the listing expired in July.

The contract with the real estate company stated that "if the real estate is sold, leased or exchanged within a period of sixty (60) days from the expiration of this listing or any extension thereof to a buyer introduced to the property during the term of the listing agreement, the Owner shall pay the Listing Broker the commission set forth therein....

Do I still have to pay for the commission?

Unless they can PROVE that the listing agreement was extended, the obligation to pay commission would have expired on the 61st day after the agreement expired.

Since your post doesn't provide specific dates, worst case is that it expired on July 31. If that is the case, the fee obligation would expire on September 29th. If the buy-sell agreement was signed BEFORE that date, you owe the commission. If signed on or after Sept 30, you don't owe it.

 

[tttishopper]

I never extended the listing.... Anyways, thank you very much for all your feedback...

 

[HomeGuru]

I never extended the listing.... Anyways, thank you very much for all your feedback...

**A: then you owe nothing since there has not been a contract accepted during the 60 days following the expiration period.