July 28, 2008
Dear George: My home is listed with a REALTOR® for $750,000. A few weeks ago, a buyer offered me $680,000. I countered with $725,000, and the buyer came back with $710,000. I rejected his offer. I've since decided not to sell the house. My agent said that if take the house off the market, I owe him for his time and expenses. Since he found a buyer willing to pay $710,000, he thinks he should be be paid his commission percentage based on that figure.
I feel this is unfair because I never accepted the buyer's offer. My listing agreement does not have any provision for early termination or reimbursement for my agent's expenses. It just says the agent will be paid if he is able to secure willing and able buyer at listing price or if the seller agrees to a price. Does he have any right to come after me for compensation?
Answer: You don't owe the listing agent anything provided his brokerage firm used the Texas Association of REALTORS® Residential Real Estate Listing Agreement, Exclusive Right to Sell, and these sections were filled in as follows:
After you withdraw your property from the market, you could offer him an amount to compensate him for the expenses he incurred, but you are not obligated to do that. If the agent won't back off his claim, file a complaint with the Texas Real Estate Commission. What that agent is trying to do is extortion.
Dear George: I recently purchased a house in the country that is outside any city or subdivision. My survey reflects a "deed gap" between my property and the next. Is this unowned property? Can I claim it? I'm going to fence my lot and would like to include the gap.
Answer: It's likely that this gap is the result of differing surveys. You need to check the deeds on the two tracts to see what was conveyed; surveyors sometimes don't look at these. Then check the survey on the adjacent tract, and compare it to the deed. You may have to get the property owner of the adjacent tract involved.
As for claiming it, you can fence it and claim it as your own. Be sure you put it on the rolls and start paying taxes on it to begin qualifying for the five-year adverse possession statute.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
