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  1. #1
    Join Date
    Oct 2019
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    3

    Default Right of First Refusal and Commisions

    My question involves real estate located in the State of: Minnesota

    Hello,
    I have a right of first refusal on a piece of property that has an accepted purchase agreement by a third party. I used my right and accepted the purchase. The ROFR was made before the property was ever listed. Do the seller or I owe the realtor commissions?

    Thanks,
    John

  2. #2
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Right of First Refusal and Commisions

    I assume you have no contract with the realtor so you don't.

    If the seller has a contract with the realtor the seller needs to have a lawyer look over the contract.

  3. #3
    Join Date
    Oct 2019
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    3

    Default Re: Right of First Refusal and Commisions

    That brings me to my next problem. Included in the purchase agreement was a dual agency agreement that I signed. Does that now require me to pay commissions?

  4. #4
    Join Date
    Oct 2016
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    3,568

    Default Re: Right of First Refusal and Commisions

    Quote Quoting JohnAdams85
    View Post
    That brings me to my next problem. Included in the purchase agreement was a dual agency agreement that I signed. Does that now require me to pay commissions?
    Then you need to have your lawyer look at the contract as well.

  5. #5
    Join Date
    Jul 2018
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    1,974

    Default Re: Right of First Refusal and Commisions

    Quote Quoting JohnAdams85
    View Post
    Do the seller or I owe the realtor commissions?
    I assume this realtor was hired by the owner. Correct? If you don't have a contract with the realtor, I can't conceive why or how you might owe him/her anything. Whether the owner owes the realtor anything under the circumstances depends on the terms of their contract.

    Quote Quoting JohnAdams85
    View Post
    That brings me to my next problem. Included in the purchase agreement was a dual agency agreement that I signed. Does that now require me to pay commissions?
    How could we possibly know? We haven't read any of the relevant documents.

  6. #6
    Join Date
    Oct 2019
    Posts
    3

    Default Re: Right of First Refusal and Commisions

    the realtor was hired by the owner.

    As far as the dual agency agreement. I have a hard time understanding what it all means. I guess I was just asking in a general sense, does signing a dual agency agreement bind you to paying commissions. To me it seems like it just states the general responsibilities of buyer, seller, and realtor. I can't find any detailed information about commissions.

    Thanks for all the help so far guys

  7. #7
    Join Date
    Jul 2018
    Posts
    1,974

    Default Re: Right of First Refusal and Commisions

    There is no absolute "yes" or "no" answer to your question.

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