From: "nielloeb@hotmail.com"
Newsgroups: misc.legal.moderated alt.lawyers misc.consumers.house
Subject: Re: HELP: Money back after purchase of home
Date: Fri, 16 Sep 2005 20:22:14 -0400
> we would get back some money to help us
> pay for furniture and some bills.
The reason you would get the money has no bearing on this. You can
leave it out of any discussions or court documents.
>He gave us some docs to sign showing
> that we would get the money. Even the seller was aware of this.
Do the documents really say it? Is the seller's signature on the
documents? If the seller's signature is not on the documents, you
would need their testimony in court if it comes to that.
> They way it would work out, through his comission (which was increased
> to about 12%) he would give us the money back once the transaction
> closed.
Agents' commissions are paid by the sellers, not the buyers. But,
again, that's not relevant to this case. What is relevant is what you
have in writing.
By the way, a 12% commission is practically unheard of. Someone got
gipped (not legally ripped off, but simply in a bad business deal for
them).
> I even went to the point of talking to the broker in the RE office
The agent works for the broker, and gives part of the commission to the
broker. So the broker is in this, too. Also, this kind of deal sounds
unethical according to official real estate agent organizations.
Therefore, it could result in the agent and the broker losing their
licenses.
I suggest you talk with the local real estate agent organization these
agents work for (it wouldn't be their company, such as ReMax).
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