Real Estate Question

[Sureshot324]

If I list a property for a certain amount, and someone offers that amount, do i have to sell it? If not, do I have to pay the real estate agent the commission?

 

[destined]

im just a noob but i just wanna take a guess. no you dont' have to sell at that price. you only pay commission on a sale. ooh i hope i'm right.

 

[b0mbrman]

Originally posted by: Sureshot324
If I list a property for a certain amount, and someone offers that amount, do i have to sell it? If not, do I have to pay the real estate agent the commission?

No. If you want to get out of selling, just say, "Pay all my closing costs" and they will probably back off.

And if not, you're up 6% from where you wanted to be...

 

[VirginiaDonkey]

ummm.....if you're the seller, you don't pay closing costs...the buyer does, they are the ones getting the load to buy your place.

If you accept a buyers contract, then you are on the hook to sell

 

[lobadobadingdong]

until signing, either of you can back out at any time. in texas anyway.

 

[Sureshot324]

Originally posted by: lobadobadingdong
until signing, either of you can back out at any time. in texas anyway.

Ok makes sense, but i heard that if someone offers your asking price and you back out, you have to pay the real estate agent the commission since they did their job in finding a buyer. Can anyone confirm this?

Btw i'm in ontario canada, but i'm still interested in what the policies are in the US.

 

[dquan97]

Originally posted by: Sureshot324
If I list a property for a certain amount, and someone offers that amount, do i have to sell it? If not, do I have to pay the real estate agent the commission?

I dont think you have to pay the commission until the deal is signed....

 

[lobadobadingdong]

I'd really suggest calling a real estate agent, or a lawyer (lawyer's are real estate agents too, they just don't make near the money doing piss ant real estate work)