Ask Experts Questions for FREE Help !
Ask

Expired RE agent contract?

Asked Mar 29, 2003, 02:26 PM — 1 Answer
A real estate agent has a standard 3 months contract with a seller, with a reserve for all potential buyers for 90 days after expiration of contract. Agent secures a buyer within the initial 90 days, but problems on part of buyer delays closing for 7 months. When closing takes place, it is more than 6 months after signing of original agent contract, (IE, more than 90 days after the reserve section).
Question: does seller still owe agent the commission?

Search this Thread
Share |
1 Answer
kkemper's Avatar
kkemper Posts: 30, Reputation: 1
Junior Member
  
#2

May 17, 2004, 11:57 PM
Re: expired RE agent contract?
In most states, the understanding is WHEN THE broker
Procures a buyer. Or when the agent procures one; not how long it takes to close.

IT is usually that simple.

It can take 2 yrs to close, with agreements on both sides and
All parties are eligible for commisions.

Btw--the listing contract almost always says "the listing
Broker has earned his commission when he has brought to the seller, a ready, willing and able buyer." THE listing
Usually says nothing about when the property must close
Escrow.
Helpful
Not your question? Ask your question View similar questions
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Add your answer here.

Remove Text Formatting
 

Undo
Redo
  
Decrease Size
Increase Size
Bold
Italic
Underline
Align Left
Align Center
Align Right
Ordered List
Unordered List
Decrease Indent
Increase Indent
Insert Email Link
Wrap [QUOTE] tags around selected text
Wrap [CODE] tags around selected text
Wrap [HTML] tags around selected text
Wrap [PHP] tags around selected text
Wrap [YOUTUBE] tags around selected text
Notification Type:



Check out some similar questions!

Hijacker.Agent.a [ 8 Answers ]

I did a scan with Ewido and it found Hijacker.Agent.a which it quarantined. On doing another scan it again appeared so this time I deleted it but next time I scanned it was back. What is this and how can I get rid of it. Thanks.

Insurance Agent [ 1 Answers ]

How much would a insurance agent make a year workin through a firm like state farm or allstate in a small town of about 20000 people.

Finding out Agent [ 3 Answers ]

How can I find out who a homeowners insurance agent is ? My daughter was injured on the property when their car backed into her. Reports were done and it has grown ugly. But no where is their Agent mentioned. They of course refuse to tell us.

Trojan/agent-bn [ 1 Answers ]

Hi have run x-soft on my pc and keep coming up with trojan /agent-bn Its inthe registry software/microsoft/windows/current version/internet settings /zonemap/domains/search softnet.com Could someone please tell me what it is and how to get rid of it Goldie

View more Real Estate questions Search