Home Buying in 33010>Question Details

Waldo, Home Buyer in Miami, FL

Is there a time limit (statute of limitations) on the procuring cause guidance.?

Asked by Waldo, Miami, FL Thu Jan 29, 2009

A broker first showed me a house nearly 2 years ago. We never wrote a contract on it and I understand the property is stil on the market. If I choose to purchase the house using another broker (now being 2 years later) can the first broker claim the commission on the sdale since he intiially showed em the house? I would argue that the chain of events ahs definitely been broken since no action was ever taken on the subject property.

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Usually when realtors get a listing agreement, there is a clause, which states the no. of days that the agreement is good for, after the listing expires. After this date, the procuring clause is over. I've never seen it go more than 6 months...If the listing has a new broker, 2 yrs later, most likely, you are safe. If you want to see the listing again, let me know, and I can research it for you. Also, b4 u see the listing, you should have a professional realtor,, who is familiar w the area, do a comp analysis, and research the history, etc. to make sure the deal is a good one. I can also check to see if, perhaps, the property is in short sale/foreclosure process. All these factors matter in re to market value, and whether you can get a mortgage or not. I am a mortgage broker. I can help you in a comprehensive, professional manner. call 954-536-0648 or email me: cjkowens@aol.com.
0 votes Thank Flag Link Wed Feb 25, 2009
Waldo, as a buyer you have the right to have the agent of your choice to work on your behalf. It would seem that two years without contact of the first agent would be a significant amount of time, to have broken the chain leading to procuring cause. If you had a buyer contract with that agent it most likely has ended. Most contracts are good for one year and there may be a protection period of as much as 180 days after the contract. If per chance the first agent feels that that he/she is entitled to a commission, that would be handled between the two brokers.
Web Reference: http://www.VassiSaviano.com
0 votes Thank Flag Link Fri Jan 30, 2009
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