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My home has been on the market for 7 months in Ohio. Today, a friend of mine came through my home and fell in love with it. Problem is, she isn't in a position to buy the home outright, but would have no problem renting the home for what we would need. We discussed the issue and decided that we would be willing to rent our home to her.
Question, although I'm sure there is no black and white answer: will we be responsible for paying commission? We've not signed any paperwork regarding rentals, as we never intended to rent our home. Agent's boss is throwing around numbers of 1 or 2 months rent...again, we have no paperwork or documentation on this. We are in the state of Ohio, if that helps any.
In the standard Texas contract, it states that during the listing agreement, the seller will NOT rent the home to someone. In order to rent the home to someone, you have to get your agent's permission. With that, they usually allow is, but the "typical" fee for a rental is 1 month's rent, though negotiable.
Last edited by FalconheadWest; 06-22-2010 at 09:59 AM..
In the standard Texas contract, it states that during the listing agreement, the seller will NOT rent the home to someone. In order to rent the home to someone, you have to get your agent's permission. With that, they usually allow is, but the "typical" fee for a rental is 1 month's rent, though negotiable.
It's hard to believe that you must ask such a question here. Both you and the broker must comply with the listing contract, whatever it says or doesn't say. BTW, every listing contract that I've seen specifically addresses your issue, and yes, commissions are typically due and payable.
I do realize the contract rules, but our contract did not address this issue. We are listed with Sibcy Cline in Ohio and our contract said nothing regarding renting our home. We've since settled the issue, home is rented, and we were not obligated to pay commission. We will, however, do something very nice for our agent who was wonderful.
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