Confused about your last offer/listing agreement?
Did you fully understand the document you just signed? If you are a little unsure about your level of comprehension of the last listing/offer you signed, don't worry, you are not alone.
I've got a great example of a home owner who misunderstood one of the many important clauses in his Listing Agreement, namely in reference to the Holdover Period. This states that the seller agrees to pay the agreed upon commission if an offer is accepted by the seller within a predefined number of days of the expiration of the listing period, if the buyer was introduced to the property from any source whatsoever during the Listing Period. This can be newspaper advertising or an Open House, or private showing etc…
Please be sure you clearly understand the document in its entirety, and don't let anyone gloss over these clauses as 'legal mumbo jumbo'. It will help you make educated decisions, and can potentially save you money in the long run.
Give me a call to learn about the other clauses in your contracts and discover the steps I take to ensure you are always protected.
Posted by Szabolcs Pall
on February 5, 2010