What is the definition of conditional withdrawal in a real estate contract?
Posted on April 10th, 2010 in Renting & Real Estate | 1 Comment »
B asked:
I have a real estate contract that I want to get out of because the realtor is not showing my home but he wants 500.00 - A conditional withdrawel fee???? House is not being shown. Priced according to what the realtor told me - then I dropped the price 3 times and did some other work that he said would help the house to show better - unfortunately the house is not even showing.
Orlando Fl Real Estate
I have a real estate contract that I want to get out of because the realtor is not showing my home but he wants 500.00 - A conditional withdrawel fee???? House is not being shown. Priced according to what the realtor told me - then I dropped the price 3 times and did some other work that he said would help the house to show better - unfortunately the house is not even showing.
Orlando Fl Real Estate
One Response
Carboxytherapy, Stretch Marks Removal
First off, you need to find out why the home isn’t being shown. Very few agents show the homes they list themselves; most are placed on the MLS and are shown and sold by other agents. The brokers and agents then split the commissions.
If a house isn’t being shown at all, there is something wrong. The most common reason for a lack of showings by far is too high an asking price. Even a dump of a place in a bad neighborhood will sell if the price is right.
Have you discussed this with the agent? Did he recommend an asking price but you overrode the recommendation and put on a much higher asking price. If that’s the case, the agent is well within his rights to enforce the $500.00 fee for cancelling the listing.