Legal Question in Real Estate Law in New York

Real Estate

In October of 2005 I signed a 1 year real estate contract to list my business for sale. Prior to that I was signed on with the same company and had a deal fall through. The new contract was fruitless and has now run out. The original buyer that resulted in a failed purchase came forward and submitted a purchase offer through his lawyer and not real estate, to our likings and we have a closing date of Feb. 15th. The real estate company is threatening to sue us for the 10% commission. My lawyer agrees with them but from what I see, we have no contract with them and there has been a lapse of 3 months from the end of the contract. I believe my lawyer is wrong and he said to seek a second opinion. I would appreciate your help. Thank you


Asked on 1/30/07, 2:36 pm

1 Answer from Attorneys
Jason Stern Law Offices of Jason Stern

Re: Real Estate

It all depends on your listing agreement with your former real estate agency. Sometimes an agreement will state that you owe a commission if you sell to a party introduced by the agency for up to six months beyond the contract's expiration.

Without the opportunity to review the document in question, it's impossible to provide you with effective advice. If you wish to arrange for a consultation, you may contact me via email.

Good luck!

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Answered on 1/30/07, 3:16 pm


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