Real Estate Matters
www.reporterherald.com • Saturday, December 3, 2011 • Reporter-Herald
Condo owner should consult lawyer ILYCE GLINK TRIBUNE MEDIA SERVICES
Q
uestion: I am trying to rent my condo. I posted a listing on Craigslist. A company contacted me and asked if they could bring by potential tenants and I agreed. I have not signed any agreement with them, but have e-mailed and talked with them numerous times. They are very aggressive. Without my express permission, they reposted my Craigslist posting and put their phone number on it. Recently they brought by a potential tenant I would like to rent to. Unfortunately, they over-pressured this person. He called me and told me he didn't feel comfortable with them. He never signed any agreement with them but did submit a rental application for credit check with them, which they gave to me. The company would receive a payment of one month's rent for bringing this person to me, but because the client won't work with them, I don't want to pay them. I offered them $500 to write up the lease but they refused and accused me of undercutting them. Now they are threatening to sue me if I rent to him. I do not have a signed contract with them, and neither does the tenant, but they have threatened to sue. Do I or the prospective tenant have an implied contract with them? Answer: You might need to talk to a lawyer on this one if you decide not to pay the real estate company the fee that seems to have been agreed upon, even if it was under a verbal agreement. Most states have laws that require a real estate broker and agent to have a written agreement for the payment of a commission or finder's fee when it comes to real estate. Without that written agreement, the real estate broker or agent might be out of luck. Furthermore, to be in the real estate business, you generally have to have a real estate brokerage license, or have an agent license and work for a licensed real estate broker. Assuming the company you hired had a valid real estate license in your state, and that its employees or agents you dealt with were licensed as well, the only thing missing would have been for them to have drawn up a written agreement with you. You may decide not to pay them anything, but they could decide to sue you. If your state law does not permit them a recovery from you as a result of their failure to obtain a written listing agreement, a written agreement to pay them a commission in finding a tenant for your property, or a written agreement to pay them as an agent representing a tenant, you may have no obligation to pay them. But they can still cause you misery by suing you, forcing you to go to court, having you represent yourself, even if you succeed in getting the case thrown out as a result of their failure to have the right paperwork. You would have to balance your desire to not pay them with the risks of becoming involved in that litigation. You could decide to pay them and move on. You would have found a tenant you like and could decide never to work with that company again.
Catching a
Flight HOME
Couple buys Loveland home, gets helicopter ride in the deal JADE CODY REPORTER-HERALD
A
menities don’t normally include a helicopter flight. For a few Loveland homebuyers, however, it was part of the deal. First-time homebuyers Craig and Amanda Cameron were among the couples who received a flight on a helicopter as part of a homebuying promotion. “It was cool to see Loveland and Fort Collins from the air,” Craig said. The Camerons admitted they were interested in buying a home at The Cottages At Enchantment Ridge beforehand, but the helicopter flight was a nice bonus. Their flight went over Horsetooth Reservoir and Poudre Canyon, Craig said. The Cottages subdivision was developed by John Giuliano, and homes in it are being built by Aspen Homes of Colorado. The subdivision is
represented solely by Team Cook of The Cottage Realty in Berthoud. “We were trying to do something a little bit different,” said Realtor Kevin Cook of Cottage Realty. “We had three different people who bought homes that month.” Cook said the helicopter promotion, along with dinner for two at the 4th St. Chophouse in Loveland, was available to Cottages homebuyers during the month of March. The promotion will also be available for homes sold during the remainder of December. The Camerons took their flight on October 15. The helicopter is owned by Giuliano, who is also a pilot. Cook said Realtors and developers are offering more promotions than in the past, partly because of the comparative lag in home sales. “We sold 31 houses in 31 days in July of 2001. We didn’t have to offer anything.” Cook said that although homebuying has slowed from a decade ago, given the suppressed home prices and low interest rates, it is an ideal time to buy now. “People are getting a lot more house for their dollar now,” he said.
Reporter-Herald/Jade Cody First-time homebuyers Amanda and Craig Cameron stand in front of their home at The Cottages at Enchantment Ridge in west Loveland. “It truly is the best time to buy right now.” The Camerons’ home, called the Foxfield model, is a two-story with three bedrooms, three bathrooms, a full unfinished basement and a two-car garage. Craig and Amanda moved in in August. They said they were able to customize virtually everything in the home.
“We really liked being able to work with the builder and customize,” Amanda said. “It was step-by-step all the way with the builder. We had a say in all of it.” “We’ve lived in enough apartments that we knew what we liked and what we didn’t,” Craig said. They also were able to take advantage of of the low inter-
est rates and lower home prices for new construction, he said. The couple ended up with a mortgage payment not far from what they were paying to live in an apartment. For more information about the promotion at The Cottages, call Team Cook at 970-532-5900, 970-227-0056 or visit www.teamcook.biz.
Pl, Loveland, $48,000, home • Matthew & Tiffany Mccray from Rase Llc, 1335 S Garfield Ave Unit E5, Loveland, $155,000, condo • Theresa Kasprzyk from Patricia Steen, 2330 Shadow Ct, Loveland, $252,000, home • Russell & Laura Stroud from John Walker, 1866 Monarch Cir, Loveland, $292,200, home • Charles Roath from Candice Andrews, 1050 W 8th St, Loveland, $150,000, home • Trevor Bousu from Aurora Loan Services Llc, 5160
Clearwater Dr, Loveland, $410,000, home • Resident from David Carter, 2640 Farisita Dr, Loveland, $407,000, home • Gayla Shay from David Cox, 299 Wrybill Ave, Loveland, $210,000, home • Powersports Llc from Dkmp2 Investments Llc, 1604 N Lincoln Ave, Loveland, $800,000, home • Andrew & Alexis Woodyard from Michael Eckert, 815 E 7th St, Loveland, $150,000, home
H&RE Real Estate Transactions Real Estate Transactions are supplied by Prospects Unlimited Inc., 1151 Eagle Drive No. 467, Loveland, CO 80537, 667-1537.
home • Lawrence Kuebrich from Loveland Southwest Llc, 160 12th St Sw Unit 121, Loveland, $285,000, condo • Christopher & Kristin Holt from P M Property Investments Llc, 1058 E 1st • Resident from Aspen St, Loveland, $182,500, Homes Colo Inc, 3366 Foster home Pl, Loveland, $212,400, • Craig & Tammy Carpenhome ter from Gerald Tayler, 3805 • Erion Foundation from Verbo Rd, Loveland, Bisettis Holdings Inc, 310 $330,000, home Railroad Ave, Loveland, • William & Jamie $487,500, home Lawrence from Lois Thomas, 2204 S Arthur Ave, Love• Richard Gayhart from Lorie Burnside, 587 Johnson land, $160,000, home Ave, Loveland, $150,000, • Jeffrey & Pamela Mayers
Loveland
from Donna Bescheinen, 4546 Cole Dr, Loveland, $248,000, home • Steven Burns from Fannie Mae, 1808 Carlisle Dr, Loveland, $112,000, home • Tyler & Nancy Penley from Federal Home Ln Mortgage Corp, 420 Glenda Dr, Loveland, $100,000, home • Patricia Steen from Luckeroth Family Living Trust, 2491 Waverly Dr, Loveland, $235,000, home • Ron Vanderploeg from Joy Moya, 1333 E 7th St, Loveland, $80,000, home • Sotero Rodriguez from Mary Mullaney, 2720 Mallow
I See Transactions/Page C3
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