B
backmrob
Guest
State of Iowa
I am a homeowner who signed a exclusive listing agreement dated from oct 7,01 to dec 7,01.What i didnt realize was that the broker included a 60 day clause that starts on Dec 7,01 that says
Broker is entitile to a 7% of the gross sales price of 72,5000,or a minimum of 2500.00 whichever is greater and aany apllicable sales tax on the professional fee,ifany,if:
Owner or anyone else sells,exchanges,kleases,rents or otherwise transfers the property during the period herein at any price and terms,or
Property is sold,conveyed,or otherwise transferred within 60 days after termination,provided i have received notice in writing,inclusing name,address of the prospective purchasers,before or upon termination of this agfreement.However,I am shall not be obligated to pay such compensation if a valid listing agreement is entered into during the term of said protection period with another liscenced realestae broker and the sale,lease,or exchange of the property is made during the term of said protection period or owner prevents the sale of the property by adverse action.
I have secured a renter on my own who wants to move in Jan 1,02.Will I have to pay the broker a 7%commission even though she did not sell the house and I am renting it on my own?
Should I enter another listing agreement with a seperate liscenced broker from dec7 to dec31 and make sure no more clauses are in the contract like the 60 day clause the last realtor put in to cover me legally?
Thankyou,
Robert B Backman
I am a homeowner who signed a exclusive listing agreement dated from oct 7,01 to dec 7,01.What i didnt realize was that the broker included a 60 day clause that starts on Dec 7,01 that says
Broker is entitile to a 7% of the gross sales price of 72,5000,or a minimum of 2500.00 whichever is greater and aany apllicable sales tax on the professional fee,ifany,if:
Owner or anyone else sells,exchanges,kleases,rents or otherwise transfers the property during the period herein at any price and terms,or
Property is sold,conveyed,or otherwise transferred within 60 days after termination,provided i have received notice in writing,inclusing name,address of the prospective purchasers,before or upon termination of this agfreement.However,I am shall not be obligated to pay such compensation if a valid listing agreement is entered into during the term of said protection period with another liscenced realestae broker and the sale,lease,or exchange of the property is made during the term of said protection period or owner prevents the sale of the property by adverse action.
I have secured a renter on my own who wants to move in Jan 1,02.Will I have to pay the broker a 7%commission even though she did not sell the house and I am renting it on my own?
Should I enter another listing agreement with a seperate liscenced broker from dec7 to dec31 and make sure no more clauses are in the contract like the 60 day clause the last realtor put in to cover me legally?
Thankyou,
Robert B Backman