Legal Question in Real Estate Law in California
agent commission
I am an 87 year old widow. After 54 years, I decided to
sell my house. I contacted a real estate agent - and in
the end, he decided to buy the house for himself, as is.
He agreed to my asking price. He deducted his
commission from the selling price. After escrow
opened, he told me that he could not afford the house.
However, the deal would go through if I lowered the
price by $10,000. Since I had made arrangements to
move already, I agreed. My questions are: is he entitled
to a commission if he buys the house, was the $10,000
reduction extortion, and do I have grounds for legal
action? Thank you .
4 Answers from Attorneys
Re: agent commission
This guy has real problems. In addition to the various other violations it is probably Elder Abuse. Get an attorney.]
Joel Selik
Attorney, Real Estate Broker
www.4thelaw.com
Re: agent commission
I see major issues of whether the agent breached his fiduciary duties in the facts you described. See a real estae attorney as soon as possible. I would not be surprised if a demand letter couldn't fix this situation without litigation.
Re: agent commission
Sounds to me like you have a pretty good lawsuit. I would need more info, of course, but would be interrested in talking to you and looking at your documentation. Call for an appointment.
Re: agent commission
You may have a very good case against the agent for breach of fiduciary duty. If you can fax me your paper work to 714 363 0229, I will call you and advise you if you have a case without charge. If you have a case, I make take such a case on a contingency to try to recover the rest of your money.
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