 |
Commission Question |
| |
 |
I entered escrow on a property I am selling. After months of negotiations the buyer and I are not in agreement on his final, whittled down price. We have agreed to cancel the escrow in its entirety. The question is: does this constitute "default" as far as my listing agents are concerned, thereby entitling them to their commission even though the property never sold? |
| |
| |
 |
I haven't seen the documents involved, and I'm not sure how you could have entered escrow if you hadn't agreed on a price. You'll have to consult your own lawyer. The general rule is that commission is owed when a ready willing and able buyer has been produced. No way I can judge from this distance whether you are in default. Sorry I can't be of help. |
| |
|
Edith
Originally published on July 29, 2007 |
| |
| |
|
Back to Summary
|
< Previous | Next > |
| |
|
|
