913,818
You can call legal hotline and ask them. If I was the buyer, I wouldn't pay the broker anything since I didn't aquire any property.
-
Valeria Mola
Sunny Isles Beach, FL
-
Sandy Padula & Norm Pa...
, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
-
Debe Maxwell, CRS
Charlotte, NC
5,257,583
I'm not in VA but, 'by other than the Buyer' would be covered here if 'by' seller. In the example of Specific Performance - the seller has a buyer, who is performing but, seller decides not to sell, sellers broker can seek compensation for both buyers' agent and themselves.
On the buy side - I've had buyers terminate 2 deals before going through with the 3rd. I was paid at Closing of the 3rd - ONLY for the 3rd transaction!
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Valeria Mola
Sunny Isles Beach, FL
-
Brian L. Sirota, Esq.
Orange, CA
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Richard Weeks
Dallas, TX
1,057,404
Wouldn't the fee be earned at the time of a successful close?
I'm in Arizona and our fees are earned at the time that a transaction is closed. I don't know what your contract says, but it will govern.
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Valeria Mola
Sunny Isles Beach, FL
-
Brian L. Sirota, Esq.
Orange, CA
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Carol Williams
Wenatchee, WA
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Richard Weeks
Dallas, TX
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
2,402,139
Ask your broker Mark Adams .
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Valeria Mola
Sunny Isles Beach, FL
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Richard Weeks
Dallas, TX
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
1,093,347
I'm not in VA and this sounds like a state specific question. If you have access to the legal hotline through your state association, call and ask their opinion. Our legal hotline is excellent for contract questions so I use it often.
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Valeria Mola
Sunny Isles Beach, FL
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
1,202,422
I would think the answer to that would be within the wording of the contract.
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Valeria Mola
Sunny Isles Beach, FL
-
Diana Zaccaro Broker A...
Cocoa Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
5,244,229
Don't know the VA law or the wording in the exclusive agreement. Sounds like you need to find a more competent broker to sponsor you!
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Valeria Mola
Sunny Isles Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
5,583,328
that's a great question for a real estate attorney.... don't wear that hat!!!
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Valeria Mola
Sunny Isles Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
4,905,762
I would think it depends on what is contained in your buyers rep agreement.
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Valeria Mola
Sunny Isles Beach, FL
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
1,506,763
Best to ask a Virginia real estate attorney.
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Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
556,536
If the agent/broker sues the buyer for the commission they will get laughed out of court. The job was not completed no compensation is due. Time to call the va real estate commission. This is why i advise buyers not to sign exclusive buyer agency agreements, too many unethical agents willing to take advantage of vague legal jargon.
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Valeria Mola
Sunny Isles Beach, FL
-
Candice A. Donofrio
Fort Mohave, AZ
-
Bob "RealMan" Timm
Minot, ND
6,423,260
It depends on the situation.
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Valeria Mola
Sunny Isles Beach, FL
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
1,554,377
I'm a CA Realtor, so my state may be different rules, and that's not enough info.
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Nina Hollander, Broker
Charlotte, NC
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Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
2,071,025
Depends of the agreement.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
3,350,439
I suggest you discuss this with a local attorney.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
536,943
Not here.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
1,325,249
The agreement should cover this eventuality, I would think.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
613,494
Mark Adams I have worked under exclusive right to represent agreements for almost 30 years and have never heard of any buyer paying a commission for a failed transaction that was not the buyers fault.
Sure, you can charge the buyer a fee for your time and whatever else you can get them to agree to...but pay a commission for no transaction? Cheezy at best.
You state that he has been using the agreement for 6 years and JUST NOW READ IT??? I am willing to bet that he still does not know what it says...
Time to find another broker...this one will teach you nothing.
Eve
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Bob "RealMan" Timm
Minot, ND
-
Candice A. Donofrio
Fort Mohave, AZ
469,510
291,307
i dont have an answer, I'm in Pa.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
1,728,656
As Jeff Pearl wrote.
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Bob "RealMan" Timm
Minot, ND
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Valeria Mola
Sunny Isles Beach, FL
5,115,873
What does the buyer agency agreement say?
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Valeria Mola
Sunny Isles Beach, FL
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Bob "RealMan" Timm
Minot, ND
2,785,276
Even if it is so...the cost and time to litigate must enter in plus can it be collected if you win a suit and if you lose a suit your losses increase. Best approach is negotiate something both can live with or walk-away wiser
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Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
4,966,020
Check with your broker, your state could be different
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Bob "RealMan" Timm
Minot, ND
1,598,452
3,168,134
I have no knowledge of the VA contract, so can't help. But it should be specifically spelled out in the terms of the agreement. In GA, no closing and the default is not the buyer then no commission due from buyer, seller maybe, not the buyer.
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Bob "RealMan" Timm
Minot, ND
420,003
Tell the broker to show you where it says that... If deal fell apart there is no commission. Did buyer cause the default after long delays?
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Bob "RealMan" Timm
Minot, ND
7,869,863
Doubtful. Follow the terms of the agreement.
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Bob "RealMan" Timm
Minot, ND
5,772,593
1,242,204
5,879,125