Screwing a broker

watch the men's US Open final set. But to answer your question, don't you just have a claim against the client/seller for the commission? If they have the dough, you get paid, or you sue for the balance. More likely, you settle.

does this happen often, i have to imagine its quite frequent these days?

This is all worked out pre-closing -- the bank is notified that there will be a short sale and the negotiated brokerage commission is approved by them as part of their approving the short sale.

ali r.
{downtown broker}

HELLO!
It's ice, OJ, Vodka, broker, mix, garnish with orange sclice serve in tumbler.

If you can't afford a broker, you shouldn't use one. I personally don't use them but respect other people who do. However, if anyone commits to use one, the contract should be honored and the broker should be paid.

it needs a tropical drink umbrella... thatz how you make a "Screwing a Broker." and then you need to charge $9.40, cause an additional 6% is automatically tacked on.. to make it an even $10 drink.

"This is all worked out pre-closing -- the bank is notified that there will be a short sale and the negotiated brokerage commission is approved by them as part of their approving the short sale.

ali r.
{downtown broker}"

Not if the seller is specifically looking to screw the broker and the bank hasn't agreed to a short sale. I know of more than one instance where this occurred: for example, the last unit in the project 240 East Houston, which was actually a sort of stand-alone "gallery". Since it was the last unit, the last of the construction loan needed to be paid off and guess who didn't get paid? My buddy.

Look, there have been instances where sellers have just turned to the broker at the closing and said "F-you, sue me" and not paid. If the buyer's attorney goes along with it, not much a broker can do. the reason why the buyer's attorney might not go along with it is the possibility of being deemed complicit in the act, and when the broker puts a lien on the property, they may have to deal with it (or they just might morally object to it, or not want to spend the time to make appearances in the court case between the broker and the seller, or.....)

Now, with commercial properties, it's easy for a commercial broker to place liens in most places. However, on a Coop, the most likely thing to do is to file an "Affidavit of Entitlement" to the commission. Now, these aren't liens, so they don't directly effect the ability to transfer the property, but a bank might take a look and say they won't lend until it gets taken care of.