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Old 02-03-2021, 08:42 AM
 
492 posts, read 486,796 times
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Just an update.

The Sellers were adamant on the contract being void. Both the parties had discussed with their attorneys. It seems the seller was on right foot.

The buyer also understood that the fault was at the buyer's agent/ buyer's end. The buyer threatened to sue their agent. They offered the seller higher price to buy the house. The seller, who was losing a lot of money almost equal to the agent commission, demanded that the seller pay both the agents' commission so that he does not lose money on the house. The buyer initially offered to pay only their agent commission. The seller refused since he understood that its only the buyer's agent who is forfeiting her commission. The buyer's agent discussed with the seller's agent. The seller's agent agreed to reduce her commission by half a percent (without consent from the seller) and give that to the buyer's agent. Finally the buyer agreed to pay all agent commission. The buyer's agent did not charge any commission and the seller's agent passed on her half a percent commission to the buyer's agent. Deal went through.
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Old 02-03-2021, 11:25 AM
 
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Well, it looks like the Buyer's agent managed to get out of a sticky situation and will likely not be faced with a lawsuit.
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Old 02-03-2021, 12:39 PM
 
Location: Cary, NC
43,273 posts, read 77,073,002 times
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Quote:
Originally Posted by jackmichigan View Post
Well, it looks like the Buyer's agent managed to get out of a sticky situation and will likely not be faced with a lawsuit.

That's what it looks like.
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