Re: Home Sale: Change Of Heart

On Jan 28, 6:08 pm, yannick <compo...@xxxxxxxxx> wrote:
On Jan 28, 5:10 pm, bigjimp...@xxxxxxxxx wrote:



In Illinois an attorney can make such outlandish demands for the
seller that the buyer will back out and be released from contract-
closing in 3 years, payment only accepted in gold, no inspections
etc. Most buyers will bail and its done. Withdrawing the counter
offer will also effectively end the sale. Very rarely do courts
enforce such things at the negotiations stage.

On Jan 27, 9:13 pm, Big_Jake <I.do.realest...@xxxxxxxxx> wrote:

On Jan 27, 4:20 pm, yannick <compo...@xxxxxxxxx> wrote:

you live...

The other poster is way wrong saying that suing for refusal to sell
won't get far. In most cases, the buyer can sue for "specific
performance" which basically forces the sale through. I was involved
in a case like this where the seller ended up paying thousands of
dollars in attorney's fees and the sale happening as per the original
offer.

Have you withdrawn the counter offer yet?

JK- Hide quoted text -

- Show quoted text -

THANKS. Still, out of sheer curiosity and now anxiety, how much is a
reasonable amount to pay the listing agent for his work and bolt out
of the current contract, assuming that i dont want to let the contract
run for months and months with the home fictitiously on sale.

I have seen sellers withdraw listings with no compensation at all to
the agent. Real Estate sales are pretty much a "you win some, you
lose some" kind of business. A good agent (or broker) should be
willing to eat some costs (to a point) to keep a customer happy, and
possibly have them still be their customer somewhere down the road.

I was serious when I said that it can vary dramatically, anywhere from
nothing to a full commission. Your agent should be getting curious
why you pulled your counter, so pick up the phone and call him / her
and tell them your life situation changed and you can't sell your
house. See what they say. It sounds like they have nothing into the
deal right now except MLS Fees ($10 where I am, to post a listing) and
some time. What is an agent's time worth? Somewhere between nothing
and $2,000 per hour, depending on the day. Such is the nature of the
business.

JK
.

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