Legal Question in Real Estate Law in New Jersey
Our Real estate agent showed us an house last year and we have provided an offer for the same, Due to some issues the deal didnot go through and the same was cancelled. Seller has now come back to me with an offer and he would prefer to go ahead with the same deal but with out the realtors to save money.
If i accept this praposal will i be in any legal obligation with the realtor?
2 Answers from Attorneys
It depends on what the seller's listing agreement with the agent says, and whether the previous contract obligated you to pay any part of the commission. Have a lawyer review those to better advise you.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.
I agree with Miriam that the reply depends upon the language of the agreements with the brokers. Many agreements merely have a termination date after which, unless collusion was involved, the buyer and seller can negotiate between themselves. Some agreements protect the brokers by stating that if parties brought together during the term of the agreement subsequently enter a contract, the brokerage agreement is revived, at least if that occurs within some limited time frame. As Miriam states, it is best to have an attorney review the agreements before you do anything. This is a response to an Internet question and the reply is for informational purposes only and is not intended to constitute legal advice or as creating an attorney-client relatioship.
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