FSBO

Re: FSBO

• MommyLiberty5013 member

  

  December 2012

  Ummmm just that if you are under signed contract as a seller with a REA and s/he has started deals/offers with these prospective buyers and then you ditch him/her and try to sell your home to these buyers who already made offers while you used this REA, you can be in violation of a contract and have the REA and his/her company go after you for commission anyway. If you want to go FSBO, then you need to sever ties with the REA when the time comes and not contact the prospective buyers who already submitted offers via your agent. In general I think that if you FSBO, your REA has dibs on a commission (from any buyer s/he worked with already, NOT new buyers) up to 90 days after you've ended ties with him/her. Maybe the 90 days period varies by area, but that's what I've seen/read.

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• appletinibella member

  

  December 2012

  i am aware of this... all offers have been declined. i was just curious AFTER the contract is up. in no way do i have information to persue people who put in offers. 

  
  

  

  
  

  
  

  
  

  

  
  

  
  

  engaged. 04/12/08  married 07/09/10  A.J 09/29/11  baby #2 due Jan 3, '15

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• MommyLiberty5013 member

  

  December 2012

  appletinibella:

  i am aware of this... all offers have been declined. i was just curious AFTER the contract is up. in no way do i have information to persue people who put in offers. 

  Sorry for the miscommunication then. Your OP was not clear on that. It sounded like you had existing possible offers and that you wanted to consider them as a FSBO outside the scope of your REA. At least that's what I got. Sorry. Even if you go FSBO, if the buyers bring an agent to you, you would probably have to pay that agent's commission, unless the deal stated otherwise. You'd still have other costs to cover like advertising and possibly title work, so in the long run , going FSBO may not actually save you that much money and might actually cost you more time. FSBOs tend to be way overpriced too based on what the seller thinks the house is worth versus what the market actually says it's worth. If you're ready for harder work, some costs and also being realistic on your price then go for it.

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