Can I Get The RE Agent Out Of The Way
I have a short sale in negotiation stage with the bank I submitted the preliminary net sheet, which included a 6% commission to a RE Agent with whom the sellers have listed the property a few months erlier.
I splited the commission half on my cost and half on the bank.
Is there any (legal) way I can Close this deal without paying the RE Agent?
P.S. I didnt get to the seller through the agent
I make the sellers get out of the listing. In 99% of the cases, the realtor is not busting their behind to get the house sold before the auction. In fact most of them do nothing to hurry and close. So, I have the seller get out of the listing, and go from there.
To Sunre
But how do they get out of the listing (this was my initial Question) is there a form that they can fill out? does the agent have to comply?
P.S. they gave him an Exlusive
There should be a contract between the agent and the seller. Read it. Most of them have a clause that gives the realtor 30 days AFTER the expiration of the contract to still lay claim to a commission.
(It seems the only reason some of you dislike realtors is because they keep you from getting all the bargains you want. )
I dislike realtors because most of them are outright liars. They want the commission, any way they can get it.
Where I live, you can take the house off the market when you want to. They may have signed a contract for six months, but most realtors will let you out of the contract. Then if they insist on still collecting a commission for 30 days after the cancellation of the contract, put the house into a trust, and have the owner sign over benefical interest to you. The trust itself is never filed. Get the picture??
Why not negotiat a lower comission fo rhte realtor (3%) and let Hud pay that