What to do if our listing agreement expired but we received 2 offers prior to it expiring?
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What to do if our listing agreement expired but we received 2 offers prior to it expiring?
We had some question regarding one of the offers and our agent’s response to us was that they are no longer representing us and to let them know if we want to accept the agreement or not because they are still due their commission. They have also told both buyer’s agents that they are no longer representing us and told them to contact us directly and gave them my phone number. One price was for the full asking price. If we don’t accept the full price offer can we be held in breach of contract?
Asked on March 1, 2012 under Real Estate Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You are under no obligation to accept the offer for the home that you listed where the listing expired. However, since the offers came to you before the listing expired, most likely you would be responsible for real estate commissions if you accept one or the other.
Given the fact that the real estate agent (listing) that you had does not seem to want to assist you on these offers that came in before the expired listing, I suggest that you consult with a real estate attorney to counter any of the offers to possibly sell your home. If you close escrow, then you can deal with the real estate commission issue of your former listing brokerage later. It seems that the best thing for you to do is to close escrow on the property you are writing about for an amount you can live with.
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