Legal Question in Real Estate Law in Texas

I recently purchased a short sale property in Texas. Listing and buyer agent are from the same company. I closed the house couple of months ago. I signed a paper in the contract which says " Buyer to pay $10000 for reassignment fee to contract outside of closing.". After closing, I was asked to pay that $10000 to the listing agent. I paid that with a cashier check. Is this legal? can listing broker charge reassignment fee?


Asked on 2/10/11, 2:06 pm

1 Answer from Attorneys
Brandy McIntyre Law Office of Brandy Reynolds McIntyre

They can charge any fee that you are willing to agree to pay, so as long as it was disclosed at closing it is legal. I would have brought it up at that time and told them no, but once you agree you are bound to it. If you are really concerned about it and it was never discussed with you I would hire an attorney and have them try to negotiate with the broker to get some of it returned to you because it seems a little steep, unless this was actually the only fee you paid them. Generally, real estate agents/brokers are paid 3-6% of the sale price of the house for their services in the transaction, so if the total fees you paid the company are within that range it is a fair fee.

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Answered on 2/11/11, 9:30 am


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