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  1. #1
    Join Date
    Dec 2007
    Posts
    2

    Default Broker's Commission Was Never Paid

    I Brokered a real estate transaction on a golf course. Buyer was to pay commission as per the purchase and sales ($65,000). Took title to property and recorded deed in August via assumpiton of note and quick claim deed. He assumed 1,396,000 and change as per what was recorded. There was a 2nd note on the property for 400,000 from an accountant that claimed money was due (it was a murder suicide, and accountant has no proof that these funds were owed) The NEW owner of the course, let loan foreclose, to wash out the 2nd note, and bid on it and won. He has not gotten financing yet for the foreclosure so now he's trying to just sell it, or it will be foreclosed on again.

    I've since gone to a new real estate office, and trying to get the broker who's office the commission is due, to take legal action, but refuses to spend money on it.. He said "buy out my portion of the commission, and he'll give me permission to seek my own legal action". I've been telling him all along since Aug. to go after him, and just this week he drops this on me. I have three questions.

    one, can I take legal action against the person that owes the initial fee

    two, can I take legal action against my old office, for not pursuing the matter on my behalf

    three. If I can take legal action against the person, can I leave my old office out of commission due to them? (about 15,000)

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Commission Never Paid!!!!!

    How about : legal action against your old broker for the commission HE is supposed to pay you. Unless your contract stated that your commission is dependent upon the brokerage recieving thier commission, your old broker owes you your commission. not any other party and you do not have standing to sue any other party other than your old broker.

  3. #3
    Join Date
    Dec 2007
    Posts
    2

    Default Re: Commission Never Paid!!!!!

    I'm thinking about that as well, the totally commission is 65,000 due to the company, so theoretically, I can only sue him for what I'm owed, which is a little over 45,000 right?

  4. #4
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Commission Never Paid!!!!!

    correct.

    The only person that owes you any money is your old broker.

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