Do I need to pay any commission fees if the house doesn’t sell before the listing agreement expires? There is a 6 of selling price AND a flat fee?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Do I need to pay any commission fees if the house doesn’t sell before the listing agreement expires? There is a 6 of selling price AND a flat fee?

In the listing agreement, there is a section that says ‘If a sale 6 of the gross
selling price of the property’ is due to broker, as compensation, however right
after it says ‘and 470 flat fee amount’. Do I owe 470 even if the house doesn’t
sell before listing expires? Or, is that 470 owed if the house sells, along with the
6? Since I have no clue what that 470 is for as I am already responsible for 6
if house sells, I need to ask. Not sure if anything is owed or if agent can ask for
any money once listing expires, even if the house doesn’t sell?

Asked on June 30, 2017 under Real Estate Law, Nevada

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Without reviewing the entire contract and the quoted text in context, it is impossible to say for sure. Whatever the contract, read as an entirety and in context, says is what you have to pay: it is perfectly legal to have to pay a flat fee even if the home does not sell; or pay a commission plus a fee. There is no general guidance that can be provided, and the language you quote is too out of context to answer your question.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption