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Direct sale broker's commision

Started by newyork905
over 13 years ago
Posts: 1
Member since: Jan 2008
Discussion about
I am looking to purchase a coop that was subleased to me 3 years ago by a broker. The owner had an agreement with the broker (that says it expired 90 days after signing) that states if renter decides to buy the apartment a fee of 6% would need to be paid. Is anyone familiar with these agreements, and are they still valid 3 years later?
Response by ab_11218
over 13 years ago
Posts: 2017
Member since: May 2009

if it says it expires, it expired. they can't inforce anything 3 yrs later.

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Response by newyork905
over 13 years ago
Posts: 1
Member since: Jan 2008

Is it possible that the agreement could expire and still have a valid clause that states that if the renter purchases the commission should be paid?

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Response by jim_hones10
over 13 years ago
Posts: 3413
Member since: Jan 2010

of course. what the fuck do you care, this is the seller's issue, not yours.

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Response by azemaitis
over 13 years ago
Posts: 21
Member since: Jul 2010

First, from what I can tell 3 yrs. later the 90 days is up obviously, so that's expired.
Second, the 6% would usually be paid by the owner, not renter.
I have put such into rental agreements and if there is a time-frame that trumps all.
Three years later I wouldn't worry about it if I were you.

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