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/u/GritnGlory
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[MI] Exclusivity Agreement to view a house due to new laws?
My wife and I were shopping around for a little bit earlier this year for our first home but stopped while I was interviewing for new jobs. We reached back out to our realtor about a house we were interested in viewing, and she told us due to new laws, before she could show us a house, there was a new contract we had to sign but otherwise everything was the same.
The new contract is an exclusivity agreement for six months throughout the state of Michigan with a guaranteed 3% + $800 broker fee from us (the buyer). Is this normal? I like our realtor but are we getting raked over the coals here if we sign something like this? I'm already saying that six months exclusivity is a no go, the $800 broker fee also seems surprising.
So what's the deal, is stuff like this standard?
submitted by /u/GritnGlory
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[MI] Exclusivity Agreement to view house?
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My wife and I were shopping around for a little bit earlier this year for our first home but stopped while I was interviewing for new jobs. We reached back out to our realtor about a house we were interested in viewing, and she told us due to new laws, before she could show us a house, there was a new contract we had to sign but otherwise everything was the same.
The new contract is an exclusivity agreement for six months throughout the state of Michigan with a guaranteed 3% + $800 broker fee from us (the buyer). Is this normal? I like our realtor but are we getting raked over the coals here if we sign something like this? I'm already saying that six months exclusivity is a no go, the $800 broker fee also seems surprising.
So what's the deal, is stuff like this standard?
submitted by /u/GritnGlory
[link] [comments]
[MI] Exclusivity Agreement to view house?
Continue reading...