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My sister and I inherited my parents' house when they died. My intention was to buy my sister out, however, she wanted to try and get the most money out of selling the house so as Executor if my parent's will, she listed the house with a Realtor. I had the first right of refusal which I exercised when she received a contract bid recently. I have received a refinance approval through a lender.( Refinancing because I already own 50% of the property.) I am now being told that my sister and I have to pay the Realtor who listed the property her 5% commission which means, I pay $8K and my sister pays another $8K. Why am I paying a Realtor commission on a house she didn't sell to me? And that I already own 50% of and have been living in with my family?
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I have to be honest unless the total commission was 16000 and the split was 8 and 8 you shouldnt have to pay seperate commissions. I would talk to the attorney on this one and look back at your listing agreement
Hi there, In my area if the realtor does not sell the home they are not entitled to a commission. If you signed a listing agreement with the realtor, I would reread that contract and make sure of the stipulations.
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