Legal Question in Real Estate Law in Oregon
Real Estate Agent contracts
Is there a ''cooling off'' period after a real estate contract expires? IE.
If a contract with an agent expires April 1 with out the agent selling the house
and the owner finds someone to buy the house May 1 on their own,
does the ex-agent have any rights to fees?
3 Answers from Attorneys
Re: Real Estate Agent contracts
IN California:
the agent does not. This assumes agent did not find the buyer.
Joel Selik
Attorney & CA REal Estate Broker
800-894-289
www.SelikLaw.com
Re: Real Estate Agent contracts
If the buyer is one that the agent showed the house while the listing contract was in force, most listing contracts contain language that provides that the agent is entitled to a commission if the property is sold to that persion within a certain period, often 60-90 days.
If the buyer is one that the seller found on his/her own, then the agent is generally not entitled to a commission.
The listing contract you had with the agent will control whether the agent is entitled to be paid and under what circumstances.
Re: Real Estate Agent contracts
Answering this question obliges the attorney to speculate on what's contained in your contract, The prior answers both accurately describe the most usual contract terms, but the terms are not "automatic" and the only way to be sure is to look for the governing provisions in your own listing agreement.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
