Do we owe our realtor any money if the short sale failed and we bought the home at the auction?
We were working with an agent to get the home as a short sale but it failed. We found and hired a bidding service to represent us at the trustee sale and we won the home. My parents paid cash for the home and we are now buying the home from them as a "for sale by owner". We paid the bidding service $1500 for helping us. Now our agent is asking us to pay $2800 for helping us get the property. We didn't sign any contracts with the agent and don't want to pay the $2800 since we already had to pay the bidding service. We don't want to cheat anyone out of their money if it is due though. Please help!
Public Comments
- Did you sign any sort of contract with the realtor? I highly doubt you could be held to paying this commission, because, the realtor failed at getting this done. Also, you did NOT buy the property ...your parents did! I think the realtor is obviously needing money and feels that the time and energy they did put into helping you is worth something. If you want to be generous, you could offer $500 for their time, but, I doubt legally, you would be held accountable for the large amount they want.
- Since the agent did not have you sign a buyer's representation agreement, I doubt you have any legal obligation to pay them a commission.
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