Posted by Michael Morrongiello on October 25, 2000 at 16:54:27:
If the seller is still willing to pay the agent (who apparently has done nothing but list the property for sale and throw it into the MLS system, I don’t see how you can be harmed. It might be wise to have the agent or his broker sign some sort of hold harmless type letter at the time of closing that states that they will not come after you or the seller as the result of the seller selling directly to you.
Michael Morrongiello
seller ‘bypassing’ agent… - Posted by vladimir_Chicago
Posted by vladimir_Chicago on October 25, 2000 at 16:24:35:
I was wondering about ‘worst’ case scenario that can happen in case of a seller, which bypasses selling agent and sells property to me.
This is the same seller I wrote about below. The reason she wants to bypass her agent is because she is too motivated now and cannot wait 30-90 days to sell her house.
She told me that all she would have to do is pay $2500 commision (which she would pay, btw). I was just wondering if there are penalties I can be faced with, etc…
Thanks in advance,
vladimir_Chicago
There’s no “bypassing” going on here. - Posted by Carmen_FL
Posted by Carmen_FL on October 27, 2000 at 13:31:01:
If the seller agrees to pay the commission, there is no “bypassing” of the realtor happening here.
The realtor may feel inclined to give his opinion of the deal, or try to get you to write up a contract through them in order to make the seller feel that he/she has “earned” the commission, but he/she is certainly not going to OBJECT to having one of his listings sell! And, they can’t force you, as the buyer to use them - you have no agreement with them, and so no fiduciary relationship exists. Just let the Realtor know where the closing is and when they can pick up their check - chances are, that’s the only time you’ll even see them!
Re: seller ‘bypassing’ agent… - Posted by dewCO
Posted by dewCO on October 25, 2000 at 23:16:26:
See needs to get a release with NO liability and no fees due to the real estate company. If they find out you gave her this idea, they might be able to sue you (and win) for interference with a valid contract (between the realtor and seller). She needs to get out without mentioning you.
Re: seller ‘bypassing’ agent… - Posted by AndrewC
Posted by AndrewC on October 25, 2000 at 18:28:32:
Texas Association of Realtors listing agreement goes as follows.
Brokers fee:
b. Earned: Brokers fee is earned when any one of the following occurs during the term of this listing:
(1) Seller sells, exchanges,agrees to sell, or agrees to exchange the property to anyone on any terms.
(2) Broker individually or in cooperation with another broker procures a buyer ready , wlling and able to buy the property at the listing price or at any other price acceptableto seller;or
(3) Seller breaches this listing(including but not limited to seller selling or leasing the property without the Broker’s consent)
So, in answer to your question, as long as the seller has agreed to honor the agreement and pay the Broker anyway, just do it. Have the seller tell the Broker the deal and that he will be recieving his commission.
Personally as an agent , i would go for this kind of deal all day, everyday. To have a seller list with me then find his own buyer and still get paid. No problem.
That would be eqaul to an investor getting an option or a contract to buy a house, and a seller finding a better deal , and paying you to release them from their agreement. How many of you wouldnt take a quick $2500 ???I would do it every second of every day.Easiest $2500 made.
Andrew Colvin