Legal Question in Real Estate Law in Maine

real estate problem

i am trying to help my parents sell a piece of property. they have had it listed with an assortment of real estate agents for over 5 years now with no luck. can they list the home for sale for private sale by owner and sell it outright or do they have to cancel the real estate companies involvment first?


Asked on 8/25/07, 5:06 pm

1 Answer from Attorneys

Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Re: real estate problem

If the property is listed with an agent, there will be a listing agreement that the agent had your parents sign. If your parents do not have it, they have the right to get a copy of from the agent. The agreement will detail under what circumstances the property can be sold by Owner without paying the commission to the agent.

If there is no agreement, then the agent should acknowledge in writing that he/she has been discharged, and that there is no right to a commission unless the property sells by Owner to a specific list of people the agent worked with. This condition can last for a few months. The agent should generate a list or agree to completely release the property.

The agent may appreciate the chance to "protect" his efforts to date with any specific parties the property may have been shown to, etc, but it is important to specify who these parties are and not leave it open ended.

Read more
Answered on 8/27/07, 8:53 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Maine