Legal Question in Real Estate Law in Illinois

Commission on Contract for Deed

I am an Agent w/ a Real Estate firm in AZ. The firm had a listing on a property in IL (I assume there is a Co-Broke agreement w/ an IL firm however I can not find same). I procurred a Buyer who due to financing problems did a Contract for Deed until permanent financing could be secured. The Buyer took posission of the property (a hotel)and never obtained financing. The Seller took proprety back via a Quit Claim Deed. Subsequently my Broker found ''another'' buyer who has this property under contract.

Question: Am I due a commission and if so, would I pursue both my broker and the Seller? Listing Agreement states a commission is due if ''property is sold, exchanged, conveyed, leased, rented or otherwise transfered''. Thank you for your assistance.


Asked on 7/25/01, 7:48 pm

2 Answers from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Commission on Contract for Deed

You should probably file a complaint with your local Board of Realtors.

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Answered on 7/25/01, 9:51 pm
Mark N. Goodman Goodman Law Firm, P.C.

Re: Commission on Contract for Deed

You may have a valid claim (that may be time-barred if you do not act in time). We may be able to help. Please contact our office if you would like to pursue the matter. 928/445-3230 or 602/943-1300.

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Answered on 7/26/01, 11:03 am


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