We hired an realtor to sale a condo in VA. The condo didn't sale, so we decided to rent it. In Feb. 2011 the realtor found the tenant and they signed a 1 year contract. When the contract was up (Feb 2012), the tenant chose to do a month to month rent. The tenant called two months ago and said they wanted to purchase the condo and they would hire an attorney to complete the deal if we could come to an agreement on the selling cost. We negotiated by phone and signed a contract of sale. The realtor found out we were selling the condo and wrote an email saying we had to pay her 3% of the selling cost. She said the contract (that was signed for the rental agreement) states:
12:E. Purchase by Tenant. If the tenant purchases premises during tenant's occupancy of premises or within 90 days of vacating premises, Landlord agrees to pay Broker compensation of 3% cash of settlement.
We wanted to know if the contract has expired and if we have to pay her this amount?
1 Answer from Attorneys
If the contract (lease agreement) truly expired back in 2012, then, no, you
should not have to pay this commission to the listing agent but I would need to review its terms to opine with greater certainty on this matter.
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