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Old 07-19-2012, 12:23 PM
 
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Actually, it is now in the MLS & accepts conventional selling terms! Assuming the listing contract originally said that at the time of our offer also.
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Old 07-19-2012, 12:26 PM
 
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It's now on the MLS with a higher buyer's agency commission than what my offer asked for!
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Old 07-19-2012, 12:52 PM
 
Location: DFW - Coppell / Las Colinas
29,921 posts, read 34,526,470 times
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Quote:
It's now on the MLS with a higher buyer's agency commission than what my offer asked for!
Need more details on your situation. My son made an offer on a San Francisco townhome about 2 weeks ago. They went $100k over the asking price, there were 12 offers on the house and he did not get it.

Assuming most of those 12 offers were full price or more, would the Listing Broker owe 11 additional commissions on the offers that were not accepted ?

Nope
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Old 07-19-2012, 12:54 PM
 
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Makes sesne Rakin, thank you.
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Old 07-19-2012, 12:59 PM
 
Location: DFW - Coppell / Las Colinas
29,921 posts, read 34,526,470 times
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Quote:
Originally Posted by kstaggs7225 View Post
Makes sesne Rakin, thank you.
I don't think I read but why excatly was your full price qualified buyers offer not accepted ? Was there a reason given ? In Some areas like my San Fran example, the "Listing Price" is where you start and bid up from there. I would suspect there are a few Uptown markets like that in the US.
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Old 07-19-2012, 01:09 PM
 
Location: Tempe, Arizona
4,511 posts, read 11,555,896 times
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Our local paper had a similar question in a real estate column where a local RE lawyer answers the questions. His opinion was that an offer with any form of contingency negates the "ready, willing, able" listing clause. He said it is basically impossible to enforce it. Even a full cash offer with no financing or inspections would still have a title clearance contingency (or should).
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Old 07-19-2012, 01:10 PM
 
Location: NJ
17,579 posts, read 38,295,421 times
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Quote:
Originally Posted by kstaggs7225 View Post
It's now on the MLS with a higher buyer's agency commission than what my offer asked for!
Your offer asked for a commission?
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Old 07-19-2012, 01:10 PM
 
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Well, if the answer came from a RE lawyer...
Thanks!
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Old 07-19-2012, 01:11 PM
 
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Yes, my offer asked for a commission because it wasn't listed in the MLS.
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Old 07-19-2012, 01:14 PM
 
Location: NJ
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Question - if it wasn't listed in the MLS and therefore no commission was stated, how would someone determine what your broker was "owed" by bringing the buyer?
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