Legal Question in Real Estate Law in Illinois
real estate
I saw a house that was listed with a realtor about 7 months ago. Our realtor showed it to us and we made an offer. We were too far apart in the price so we didn't respond to their counter. Two months ago the house went off the market after the contract with their realtor expired. We contacted the owner and asked if they would take a lower offer now that they don't have a contract with a realtor.
What is their obligation or ours to pay either realtor a comission if we end up buying this house without using the realtors?
2 Answers from Attorneys
Re: real estate
It does depend on the details and it should be very clear in your contract. However, that being said, a common clause in these contracts would cover something like: if you were shown a property through an agent, then you will be responsible if you buy that property after your exclusive contract comes to an end. But you must examine the language carefully. The Seller could also be liable if he is aware of the possibility of commission being owed and chooses to close regardless.
Re: real estate
You would need to review any contracts you and/or he had with the respectve brokers.
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