Comments on: Offer to purchase can be binding http://www.bostonreb.com/2008/05/offer-to-purchase-can-be-binding/ Boston real estate. Boston condos. Fri, 12 Mar 2010 23:22:22 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: JenniferZ http://www.bostonreb.com/2008/05/offer-to-purchase-can-be-binding/comment-page-1/#comment-4859 JenniferZ Sat, 17 May 2008 00:24:55 +0000 http://bostonreb.com/2008/05/16/offer-to-purchase-can-be-binding/#comment-4859 Most things legally don't work out for the agent. While we are held to the higher level of ethics and accountablitily, as we should, we sure seem to be serverly lacking when it comes to our own legal rights of a contract. I guess it's a catch 22; no one wants to profit from an unfortunate situation of a buyer or seller. I guess it's just how the escrow closes, or not. :) Most things legally don’t work out for the agent. While we are held to the higher level of ethics and accountablitily, as we should, we sure seem to be serverly lacking when it comes to our own legal rights of a contract. I guess it’s a catch 22; no one wants to profit from an unfortunate situation of a buyer or seller. I guess it’s just how the escrow closes, or not. :)

]]> By: John A Keith http://www.bostonreb.com/2008/05/offer-to-purchase-can-be-binding/comment-page-1/#comment-4861 John A Keith Fri, 16 May 2008 15:20:11 +0000 http://bostonreb.com/2008/05/16/offer-to-purchase-can-be-binding/#comment-4861 Mos Def. The buyer's agent has every right to sue or file a complaint with the Realtor board for payment due. I know I would. The buyer's agent found a buyer who was ready, willing and able to buy. Realtor regulations (and MLSPIN's, I believe) require a seller's agent to pay a buyer's agent, if the above criteria are met. Very infrequently does it ever work out in the agent's favor, though. But for a $125,000 commission, I might be willing to at least make the effort! Mos Def.

The buyer’s agent has every right to sue or file a complaint with the Realtor board for payment due. I know I would. The buyer’s agent found a buyer who was ready, willing and able to buy.

Realtor regulations (and MLSPIN’s, I believe) require a seller’s agent to pay a buyer’s agent, if the above criteria are met.

Very infrequently does it ever work out in the agent’s favor, though.

But for a $125,000 commission, I might be willing to at least make the effort!

]]> By: JenniferZ http://www.bostonreb.com/2008/05/offer-to-purchase-can-be-binding/comment-page-1/#comment-4860 JenniferZ Fri, 16 May 2008 15:10:09 +0000 http://bostonreb.com/2008/05/16/offer-to-purchase-can-be-binding/#comment-4860 It will be interesting to see how the law favors this case. Couldn't the listing agent have a potential case against the seller too for loss of commision due to non performance by the seller? It will be interesting to see how the law favors this case. Couldn’t the listing agent have a potential case against the seller too for loss of commision due to non performance by the seller?

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