Posted by dealmaker on July 16, 2007 at 19:20:29:
Nope! Only owe a commission if you have a SIGNED LISTING AGREEMENT with a LICENSED agent. If no listing agreement no commission.
Congrats on the sale.
dealmaker
When am I locked into my sale with an agent? - Posted by steve
Posted by steve on July 16, 2007 at 17:43:14:
I have been talking to a real estate agent regarding the sale of our home. He has come over once to look at the property. Today I found a buyer (and a real estate attorney), and I want to sell it on my own to avoid the high commissions. Am I obligated to give the real estate agent/company a percentage based on a few loose oral comunications?
-Steve
RE agreement MUST be written & signed - Posted by John Merchant
Posted by John Merchant on July 18, 2007 at 08:24:16:
That agent has no valid enforceable contract with you so forget him if he didn’t find the buyer for you.
Any and all RE agreements are either written and signed or they’re invalid and unenforceable.
“Statute of Frauds” is in force in every state for just this purpose.