Withdraw from sale

[wobbycarly]

We're withdrawing our property from the market. The deal we had with the REA was that advertising will come from his commission. Given that he didn't sell it (and he had 10 weeks), and it's our choice to withdraw, should we expect a bill for the advertising, or does he just suck it up? When I rang to advise him to withdraw it, there was no mention of a bill.

 

[marg4000]

How long did you sign up for?

If that period has expired then you should not pay anything.

If you are withdrawing the property while the contract with the RE agent to sell the property is still current then I think he would have every right to charge you for costs incurred as you are breaking the contract you signed with the agent.
Marg

 

[DaveM]

Given current market is slow and time to sell is typically 70-100 days, isnt 10 weeks a little premature?

 

[Aaron_C]

I will talk like a lawyer here - IT DEPENDS ON THE TERMS IN YOUR CONTRACT

 

[wobbycarly]

How long did you sign up for?

If that period has expired then you should not pay anything.

If you are withdrawing the property while the contract with the RE agent to sell the property is still current then I think he would have every right to charge you for costs incurred as you are breaking the contract you signed with the agent.
Marg

Period ended June 30, so we should be good. Thanks.

Given current market is slow and time to sell is typically 70-100 days, isnt 10 weeks a little premature?

Sure, if we were prepared to sell $15-20k below our lowest "happy with" price. We'll hold on to it for a year or so - it's not costing us anything...

 

[evand]

You might get less in a year.

Regarding the RE,you shouldn't have to pay anything but read your selling agreement.

Sure, if we were prepared to sell $15-20k below our lowest "happy with" price. We'll hold on to it for a year or so - it's not costing us anything...

 

[Kanemicm]

A real estate agent who includes marketing in the com, will just wear it. Unless they place an amount on the authority it's $0.

One thing to keep in mind is the authority pieord. If you are withdrawing yourself insist on a letter from the agent as well.

 

[bunnerz]

similar question as above?

We signed a 6 months contract with the REA, its been only 6 weeks and hasnt sold. The advertising in a main paper was for me to pay but when the house sells he would add it to commision.

What happens if the house does not sell in the 6 months?

 

[lizzie]

You might get less in a year.

True - but if it's not costing anything, and they don't urgently need the cash, and it is a traditionally good area then why not hold until the next upswing?