Seller wants to pay less commission; or not sign settlement papers!

[VegasMack]

Jody,

I’m sure I am too late on this thread, but for future reference, Missouri Real Estate statute says that once you present a ready, willing and able buyer your commission (as contracted) is due and payable.

I would have checked local statutes for similar language and if it existed, I would have informed my seller of same.

I am less familiar with Nevada state statutes, but after being reminded this thread I will check on it. If the language is not in the law itself, I will add it to our listing agreements.

In my only appearance in court in Missouri on this issue, we won hands down. The Judge stated that the Commission was earned because I completed my services and duties owed to the seller when I presented the “ready, willing and able buyer” and that it was irrelevant as to why seller refused to close. He went on to state that the seller was fortunate that the buyer did not sue for performance and damages.

I hope it all worked out.

-Mack

[MrJodyHudson]

I had my attorney send a letter and the Seller came to her senses... She was not happy to pay for what we had MORE than provided her but the full commission was paid. And, thanks to Pre-Paid Legal services, my letter did not cost me anything additional to my monthly PPL fees.

We cancelled the rest of her listings with us. And, we reminded her in the letter that we sent her that she should read the listing contract very carefully as she still had some serious responsibilities after the cancellation. Of course those are, that she owes us on whomever she is trying to sell to, that came to her as a result of our listing... we know who it is and she's trying to sell to them and get out of the commission.

In addition, the land we cancelled the listing on will soon be of NO value as it will soon be designated as E zoning; that is Environmentally sensitive and she will find that what we told her is true; she should have sold it to the person we had a couple of weeks ago as they wanted to use it properly. She is deluding herself that the property is suitable for townhomes - it is not - it is now suitable for bird-watching... and not much else.

[ResaleBroker]

I had this same thing happen to me a couple years ago here in Arizona. Three (3) hours before closing.

After talking with the seller I decided it wasn't worth doing the deal for what the seller was trying to re-negotiate so I said, "No Thanks!"

This seller happened to know quite a few of my clients so I did not pursue the matter legally. I figured it wasn't worth "my" time or reputation.

The best revenge is to lead a great life!

[sward]

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[nedsram]

Guess we have it pretty good up here in Ontario!

On the Listing Agreement, sellers signs that they agree to pay the stated commission.

Before an Offer is even presented to the seller, they then sign a "Confirmation of Cooperation and Representation" - which again spells out who is representing whom, and that they agree to pay commission as stated on the Listing Agreement.

Steve

[MrJodyHudson]

Steve,

We have all those written and signed and EXPLAINED documents as well... But folks get used to us working for fee and they don't ever want to pay if they are criminally intended like our client in the above example. Some of the big-dogs will try to negotiate AT Settlement for a lower commission as well - knowing that we are less powerful, and less wealthy than they are.