Legal Question in Real Estate Law in Florida

i was buy a home from a bank for $18,000 the sales commission was 6%. but now the bank is saling the home to me for $0 (zero) if i am will to pay commission and title. i told them yes i will thinking that it was still 6%. but now the realitor want me to pay them $2500 plus title plus pay the listing fee. i was told that after i agreed to take the home from the bank my question is can the commission go all the way from 6%($1020) of the asking price to between 13%-14%?

ps

i think the realitor is trying to get over on me


Asked on 6/11/10, 7:00 pm

1 Answer from Attorneys
Alterraon Phillips APLaw, LLC

You would have to read the terms of the realitor agreement with the bank (if it is the listing agent you are referring to). If it has a clause that states 6% of the sales price or $2500 (the least of the two) then the $2500 is do. If it states 6% of the sales price you would owe 6% of the what you and the bank originally signed the contract for. If you originally signed the contract for $18,000 then you would owe 6% of that. If you signed a contract for zero dollars, then technically you owe 6% of that. It all depends on what is written in the selling/listing agent's contract with the bank. They cannot change the terms of a written agreement in the middle of the process unless all parties agree in writing.

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Answered on 6/12/10, 11:55 am


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