and maureen, i appreciate your help, as well as others that have given their helpful widsom and advise.

maureen...calm down. we know we need legal advice. rather than advising me to go to another site instead of real estate, this issue is beneficial to you and everyone in this related business. so read and relax without feeling the urge to continue giving us 'you need a lawyer's help' advise. i was not offering anyone here a retainer. it's a free case study. take mental notes. enjoy.

Rosaria,

There are no lawyers here and you are seeking legal advice. As much as we Realtors may have opinions on what is going on with you, we are not fully informed about your situation, even though you have added much more information. We have not seen the contract.

Most of all, we do not practice law. Please call an attorney.

this is not the full story as the description allows a limited characters. the remainder is that the bank rejected the deal due to not agreeing to pay the listing agent's commission. they said they would do the deal, but no split for the listing agent or broker. or any broker as the loss mitigator stated he suspected the owner/agent would ultimately get some compensation. we do not agree to these terms. it was open knowledge from the beginning. the money that was to be made is going to finding somewhere to live. this was the intention from the beginning and shared to all involved. our side is: the bank rejected the offer after initially accpeting verbally, but then days later retracting for the commission issue. the buyer/buyer's agent says: we have a contract to close on the 20th. you told us the bank said yes, then later told us they said no. the owner/lister should accept $0 commission and the sellers agree to P.A. the agent's broker was pressuring him to sell; playing the 'take the deal with no commission and get out of this before the sky falls on you', as if this new agent is going to be sued for multiple issues. it's insane. the he said/she said from them has been embarassing. it does not appear as if they are looking out for our best interests, but rather their own as it also appears to me that they share some neglect in this fiasco, too. worth a note that was not included on initial posting: the home is listed on the MLS 'subject to short sale', offering stronger evidence that it was well known. there is also a change by the owners on the P.A. the owners crossed off line #28 and initialled, constituting a counter offer, yet the buyer did not initial and return. no time was written in contract, and the home was withdrawn from market. perhaps splitting hairs, but if THE P.A. is the only evidence allowed and enforcable, per the sky is falling broker, then it's worth being examined and interpreted for the listing agent/owner's side as well. quite a case study indeed. and i'm, oddly enough from where i sit, in the thick of it!! ; )

Wow, this is a very interesting case. As everyone has noted, you truly need to contact a real estate attorney. It seems to me forfeiting the commission would be the minimum that should happen ... but I will defer commenting much on this one.

Rosaria,

I would also agree with Maureen et al, that you need to contact an attorney. In addition, I suggest the listing agent contact their supervising broker. They are responsible for their agents training.

Rosaria, your question is best answered by a Real Estate attorney. What you need to keep in mind is, when an agent buys a bank owned property or sells their own property by a short sale process, the bank that is involved in the processs will not allow the owner/agent to profit from this deal. Consult an attorney. Good luck, John

Wow; this is an interesting case. Even though the "subject to bank approval" clause was missing from the purchase agreement, the buyer and their agent were in fact verbally aware of the circumstances. I find it highly unlikely that a suit against you would stand up in court, due to the fact that the third party (lienholder) is still the party making the final decision... whether disclosed in writing or not. I would suggest eliminating the listing side commission and maybe your lender will accept the short sale...

Brian Luck
Keller Williams Realty
586-770-4827

Can I suggest that you seek PROFESSIONAL advice, this time legal.