Legal Question in Real Estate Law in New York
real estate
I live in Nassau County, NY and am looking to purchase a home. I've been doing a lot of the grunt work myself. On 9/30 an agent showed me a home listed with his firm which I intend to make an offer on. Since he technically works for the seller, I hired my own buyer’s agent on Oct. 2 to make the offer on my behalf and handle my end of the negotiation. (I read on the Internet that I should have a buyer’s agent representing me.) Anyway, my contract says that the buyer’s agent would accept a fee paid to ''cooperating agents'' and I agreed to work exclusively with him “during the period of this Agreement.” A day later I received a call from the agent who showed me the property. He said because he showed me the property, I will have to make my offer through him and he will negotiate w/ the seller on my behalf. Is this correct? Will I have to pay the agent I hired or can he be paid as a cooperating agent? Given that I saw the property before I signed a contract w/ the buyer’s agent, can I proceed to negotiate that particular transaction without my buyer's agent and not be in breach of my contract? Please help. I need answers before I make my offer.
2 Answers from Attorneys
Re: real estate
Normally a broker is paid by the Seller of the real estate, unless there is a separate writing between you and the broker. You can negotiate using any agent you want to use.
Feel free to contact the undersigned should you need an attorney for the purchase. I have over 15 years experience in real estate.
Mike.
Re: real estate
It is true, the brokers fee is generally the responsibility of the Seller. If he is exclusive tehn you probably need to make the offer through him or her. Our firm specializes in Real Estate Transactions such as this throught NYC and Long Island. This area of law is our specialty, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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