Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My husband is in the military and a few months ago we were planning to buy a house here in NC and stay here for his second term. However, since then we have found out that he probably won't be allowed to re-enlist and therefore we would be moving to a different state. We signed a contract with a buyer's agent saying that she would get part of the commission on the price of the house we would be buying, but never discussed what would happen if we decided to not buy a house at all. So now that we're not interested in purchasing a house, would we still have to pay her? We have only gone out once to look at houses in the area and other than that she has not been a help at all. I would hate to pay someone for work that was never done.
You must read your contract that you signed with her, but more than likely, it says she gets paid upon a closing. If there is no closing, there is nothing to pay her.
Read the contract. It should answer your question.
The Buyer's Agent contracts that I have signed have included a section for terminating the relationship. It usually involved putting your desire to terminate the realtionship in writing and giving it to the real estate agency. I would do it by certified mail so you had proof of their receipt and the date they got it or simply have the agent sign and date a copy of the letter acknowledging receipt of it.
This option only comes into play should you desire to engage a different agent. If you're leaving the area and not buying a house, then it really don't matter. You won't run into a problem with the other agent since you're not buying a house.
You should/might also find a section in the agreement with an ending date for the relationship. I can't imagine an agreement without one that kept you in servitude to the Realtor forever. You could just let that date pass and the Buyer's Agreement would be ended.
Read the contract. It should answer your question.
The Buyer's Agent contracts that I have signed have included a section for terminating the relationship. It usually involved putting your desire to terminate the realtionship in writing and giving it to the real estate agency. I would do it by certified mail so you had proof of their receipt and the date they got it or simply have the agent sign and date a copy of the letter acknowledging receipt of it.
This option only comes into play should you desire to engage a different agent. If you're leaving the area and not buying a house, then it really don't matter. You won't run into a problem with the other agent since you're not buying a house.
You should/might also find a section in the agreement with an ending date for the relationship. I can't imagine an agreement without one that kept you in servitude to the Realtor forever. You could just let that date pass and the Buyer's Agreement would be ended.
Definitely "...should..." in NC. Agency Contract has to have an end date.
The right thing to do is read it, understand it, and notify the agent as soon as reasonably possible. Although they have only been out once, the agent may be actively seeking, previewing, etc, behind the scenes, unknown to the OP. It is fair to let her know it isn't going to happen.
Definitely "...should..." in NC. Agency Contract has to have an end date.
The right thing to do is read it, understand it, and notify the agent as soon as reasonably possible. Although they have only been out once, the agent may be actively seeking, previewing, etc, behind the scenes, unknown to the OP. It is fair to let her know it isn't going to happen.
I second this. Let the agent know as soon as possible. And please note, the agent has performed some work already in taking you around and researching homes. Its not just the closing that is the work. Please keep that in mind if you use an agent where you move to.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
