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Financial Assistanc Here Today To Solve Your Probl |
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Mrs |
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rhd | sale of house |
Hi
We're currently under contract thru august 16th with a R/E agent ..we've had an offer on our condo and we're waiting for the mortgage process to come thru for the buyer..basically, our condo association has allowed its
license to participate in FHA to expire..the buyer tried FHA first,and was told by the condo assoc'n that they don't allow FHA at this time ( they plan to re-up the lease soon), so he's now going conventional mortgage. problem is, in mid august, he hits his 2-yr anniversary at a second p/t job which gives him the correct amount to put down to go with conventional mortgage. so we might have to wait till then(original closing date was supposed to be July 10th). our contract with or R/E agent expires august 11th. while she 'generated' the sales lead that led us to this buyer, we're not under contract with the buyer just yet..my question is, is it legal for me to wait until her R/E contract expires with us before we close ,so that we save her $7500 commission fee and turn that into a $7500 profit for ourselves? honestly, she's done nothing for us and hasn't been a very good R/E agent, I've had to repeatedly talk to buyer's agent and mortgage counselor about where things stand,often providing add'l information that our R/E agent should have been doing in the first place.basically,I've done ALL of the legwork on this sale and don't feel I should pay my R/E agent a dime in commission...if we close after her contract expires, we don't have to pay her anything , correct?
Thanks
R.d |
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