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Steve Duren, Home Buyer in Zurich Switzerland

How is the following defined? "Commission due and Payable only with Settlement

Asked by Steve Duren, Zurich Switzerland Wed Mar 4, 2009

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This question is about this property: http://www.trulia.com/property/1072304611-3737-Van-Ness-St-N…

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Randolph is right on target. Additionally, some buyer agents/ brokers may ask for compensation if they bring a ready, willing, and able buyer to the table and the seller defaults for whatever reason. The commission due at settlement statement protects the listing broker from buyer brokers claims to compensation.

I hope that helps.
Web Reference: http://www.peersrealty.com
0 votes Thank Flag Link Wed Mar 4, 2009
Basically saying there will be no commission paid to real estate agents, unless there is a settlement. So if a contract falls apart, and settlement doesn't happen, then don't expect the seller to pay out a commission just because agent found a buyer.
0 votes Thank Flag Link Wed Mar 4, 2009
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