TSS issue taken offline.

[browniemtb]

This was a very informative thread. I've learned more after reading all the posts and realize theres more to this story. I hope Jim finds his contract to settle this issue. If it states, like some have said, about the commission owed it then is a done deal.
Brownie

 

[JimMIA]

Wouldn't it be great if we could have a few words with this convenient mystery buyer. Love to hear that side of the story (provided he/she exists).

From my reading of Jim's posts, I don't find any doubt in Jim's mind that there was a buyer. Apparently he received several phone calls from TTS asking for the return of the accepted offer, and he told them he wasn't accepting it because he'd decided not to sell...which is his right.

In fairness, I don't know why anyone other than Jim would question the legitimacy of a buyer if he doesn't...other than to lend a little drama to the discussion.

I read Jim's posts to say the issue is whether the offer came in before or after his phone mail message notifying them he'd changed his mind.

Granted a phone mail message might not meet the written notification requirement in the listing contract, but the timing of that would be critical to the resolution of the dispute. If the offer came in later and someone in the office just failed to pick up the phone mails, that's a very different situation than TTS having an offer in hand before he tried (albeit incorrectly) to cancel his listing.

 

[JimMIA]

FYI..............I am going to take this offline with TSS

Good luck and I hope it works out for both parties. As rinkwide and others have said, this thread has certainly been beneficial, and I'm glad the mods let it go.

 

[Beca]

Just another note. I have listed three contracts for sale with TTS, and actually sold two thru them. Each time, I have received the same listing agreement as someone else posted....it states that I must notify TTS IN WRITING if I am removing the listing, or I will have to pay the listing fees (10%) when a buyer is found.

One time, I sold the listed contract thru another venue. I IMMEDIATELY called TTS, told them that the contract was no longer available, and asked them EXACTLY what I needed to write in my letter telling them it was no longer available. They told me, and I faxed it in immediately. It was removed, and I was never charged a penny from TTS. They never hassled me for anything...they were very nice!!

I do believe that TTS has an actual buyer, and I do believe that the OP was not in compliance with the listing contract HE signed. I also think that TTS is not "strong-arming" him to sell, they just want their 10% as promised.

People need to read their contracts.



Beca

Beca

 

[Dean]

Jim, I don't know FLA RE law, but if you decide to sell your house in FLA, and list with an agent.......if you decide not to sell but they produced a buyer, your required to pay the commission?

Generally yes technically. Jim, you didn't say, did they produce a full price offer from a real person? Have you seen the paperwork for that offer? A reputable company in this situation would stop at the point you called them and act accordingly. IMO, anything after that might or might not be technically legal but would certainly be unethical. It would be nice to get both sides and to hear the final outcome of this issue.

 

[keishashadow]

know nothing of fl. real estate/time share regulations or the contract that the OP signed...

do know what regs are in PA...

sales listing contracts are generally on a multi-list (few are high-end exclusive initial listings)for a stated period of time. Even then, Seller usually has the option to cancel after a few months...as stated in the contract. Agency/agent agrees to specific duties (advertising, presenting offers, etc.) & indicates who they represent seller or buyer agency.

Only once have I seen a seller "renege" on a deal going to closing. They were elderly & decided at the last minute that they couldn't bear to leave their home. A performance clause was invoked & the buyer settled for a monetary award...& the agency/agent did receive commisison...everyone was satisfied.

As for selling property in PA, unless the offer is full price, absolutely no contingencies (home inspection, cash in lieu of financing, no present home to sell, etc.) don't think you can force a commission to be paid. I have seen a seller brought to task for violating fair housing laws though.

Suggest that anyone cancelling a listing use registered mail, return receipt.

 

[Disneyrsh]

[.

 

[John VN]

Just another note. I have listed three contracts for sale with TTS, and actually sold two thru them. Each time, I have received the same listing agreement as someone else posted....it states that I must notify TTS IN WRITING if I am removing the listing, or I will have to pay the listing fees (10%) when a buyer is found.

One time, I sold the listed contract thru another venue. I IMMEDIATELY called TTS, told them that the contract was no longer available, and asked them EXACTLY what I needed to write in my letter telling them it was no longer available. They told me, and I faxed it in immediately. It was removed, and I was never charged a penny from TTS. They never hassled me for anything...they were very nice!!

I do believe that TTS has an actual buyer, and I do believe that the OP was not in compliance with the listing contract HE signed. I also think that TTS is not "strong-arming" him to sell, they just want their 10% as promised.

People need to read their contracts.



Beca

Beca

Got a headache reading all the replies.

I have a listing currently with TTS and I read the contract and put in bold type above the very important information I feel is pertinent to this thread. A phone call to TTS without a signed letter does not forgive the seller of the responsibility regarding the payment of the 10% fee.

 

[DVCconvert]

Deleted.............taking this item offline with TSS.

Just as well in my mind. While the underlying concern may deserve public comment...the speicfic 'gripe' ddin't....as you and others have said publically, that the other 50% of the 'issue' couldnot comment on the underlying concern.

 

[Dean]

Just as well in my mind. While the underlying concern may deserve public comment...the speicfic 'gripe' ddin't....as you and others have said publically, that the other 50% of the 'issue' couldnot comment on the underlying concern.

Nothing is keeping TSS from posting their information other than their own choices. Unfortunately the concern can't be portrayed without much of the specifics.

 

[drakethib]

Jim, I don't know FLA RE law, but if you decide to sell your house in FLA, and list with an agent.......if you decide not to sell but they produced a buyer, your required to pay the commission?

I don't know about Florida, but I am pretty sure that is the case here in Texas.

I think it is a qualified buyer who has put down earnest money and signed a purchase agreement.

Maybe a Texas lawyer can enlighten me.