bad news for brokers...
Started by jason10006
almost 16 years ago
Posts: 5257
Member since: Jan 2009
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most people don't get paid till closing, don't see what the fuss is about, or why its bad news for anyone
No skin this game, but I could see a situation where developer offers all kinds of incentives to brokers to get somebody, anybody, anything thing to contract. Buyer puts down a deposit, 18 months later, time to close, buyer bails out. Developer says fuck you to buyer, keeps the 10 or 20%, why can't broker keep some of his prepaid juice? If deposits are ALL refunded to backing out buyer then I can see how broker should get the goose egg. If deposit is kept by developer then the claim should be legit, because the broker "earned" the deposit being paid.
Just a thought....like I said, no skin in the game.
"why its bad news for anyone"
Someone loses a lawsuit...that is bad news for the loser. If it was not big deal, it never would gone to court, would it?
BSLOTKIN forgot to post on this thread. Why?