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extender clause |
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extender clause A clause in a listing agreement that says the broker may be entitled to a commission after the expiration of the listing period if a buyer originally procured during the period later buys the property within a certain time span afterward,usually 6 months.When hiring a new broker after no success with an earlier one,an owner should always disclose a copy of the former contract and advise both brokers, in writing, that if there are any disputes as to claims for commission, the brokers must share rather than the owner being liable for double commission payments. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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