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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Realtor and foreclosure Posted by Jk (the other Jk) on March 08, 2004 at 12:30 AM In Reply to: Realtor and foreclosure posted by Camille Calenda on March 08, 2004 at 10:02 AM : Hi Ward: : I have a seller who is in foreclosure and is listed with "Help you Sell". He tried cancelling the listing agreement and all the realtor would do was "withdraw" the listing and he would owe her $6000 no matter who he sold the property to. He's 100% financed and with all expenses he would be out of pocket 13K selling the conventional way. Doesn't the realtor have to abide by the same foreclosure laws that we do?? She's basically forcing him to auction because he can't sell the property before auction without oweing money. I'm going to try and get a shortsale but I don't want to pay her either. : Thanks! : Camille :) This sounds like the reverse of the last post. I will try and answer this without being rude, so here we go... The previous owner has a contract with the real estate broker and therefore owes the commission. If you complete the sale without the realtor finding out, then the money owed will be the previous owners problem not yours. If you could work the short sell with the $6K added in this would be one less obligation the previous owner will have to deal with, but if you can't you can't. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward: : : I have a seller who is in foreclosure and is listed with "Help you Sell". He tried cancelling the listing agreement and all the realtor would do was "withdraw" the listing and he would owe her $6000 no matter who he sold the property to. He's 100% financed and with all expenses he would be out of pocket 13K selling the conventional way. Doesn't the realtor have to abide by the same foreclosure laws that we do?? She's basically forcing him to auction because he can't sell the property before auction without oweing money. I'm going to try and get a shortsale but I don't want to pay her either. : : Thanks! : : Camille :) : This sounds like the reverse of the last post. I will try and answer this without being rude, so here we go... The previous owner has a contract with the real estate broker and therefore owes the commission. If you complete the sale without the realtor finding out, then the money owed will be the previous owners problem not yours. If you could work the short sell with the $6K added in this would be one less obligation the previous owner will have to deal with, but if you can't you can't. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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