Legal Question in Real Estate Law in Connecticut
Broker commission
I signed an exclusive right of sale with a broker in May for 6 mos. Not one offer. A buyer approached me & we made a lease/purchase agreement; he leases the house for 1 yr & then buys it. He gave me a deposit. I don't think that the broker is entitled to a full commission since they did nothing on the deal which I made. I offere to pay them $10000; they want more. The''fine print'' in their contract says that-after the initial period-there is another 180 days during which they are entitled to their commission regerdless of how the sale came about. Do I have any recourse? They never explained the'' fine print'' to me.
2 Answers from Attorneys
Re: Broker commission
It is a matter of contract interpretation. This means that you have to look to the words of the contract for your answer. This does not depend on the size of the wording. However, without having viewed the contract, this opinion is only a general one. If you need further help, you can email me at [email protected].
Re: Broker commission
One issue that I have with your scenario is, when and if, did your lessee enter into a contract with you to purchase the property? If you merely gave him an option to purchase the property with the 1 yr lease, I would argue that a contract to purchase the home has not been entered into yet, and therefore the real estate brokerage is not entitled to a commission.
Feel free to contact me anytime to discuss further. This answer is not meant to, and does not, create an attorney-client relationship between the poster and Karlson, Kasper & Parasco LLC. All information contained in this answer is for general knowledge only. If you are in need of specific legal help you should contact an attorney.
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