Frequently Asked Question
Got a question? Chances are we have the answer.
The listing agreement is a contract between the seller and the real estate agent. The seller is responsible for the payment of the commission unless expressly stated otherwise.
Yes, you can. But you wouldn’t want to do that. Once a purchase offer is accepted, it stands as a legal contract. So a buyer can seek legal remedies to enforce in case you back out of a contract.
Not necessarily. Lots of terms and conditions come with a property purchase offers. And not just the money. You can go with a lower priced offer if you find a better terms and conditions. Also, in any case, you can go with a counteroffer to one or more buyers.
Beware, however, that if you turn down a full-priced offer, you may owe your agent a full commission even if you decide not to sell your home.
You must take into account the prevailing state of the real estate market and especially local market conditions. The real estate market continually changes, and market fluctuations affect property values. So it is critical to determine your listing price based on the most recent comparable sales in your neighborhood. It would be a good idea to get a CMA, also known as Comparable Market Analysis.