Real Estate: Pennsylvania/commision

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Question
I had signed a contract with a real estate agent that called for a 6% or 4000.00 commission the selling price was to be 75500 then went to 60000 then 45500 at closing he turned in the 4000.00 I said it should be the 6%or 2730.00 not 4000.00 I had to pay the 4000.00 to close the deal can I legally do something to get the difference back thank-you

Answer
Well now that it is closed it is more difficult to go back in time to recoup the expenses.  It all depends on the listing agreement you had with the agent.  Normally the 6% commission is based on the sale price.  So whatever the sale price the commission is 6% or whatever you agreed to of the sale price.  Now in this instance it may be that the listing agreement called for 6% of the sale price or a flat rate of $4000 no matter what the sale price.  You would have to review the listing paperwork you signed with the real estate agent to see exactly what it says, which you should have a copy of.  If it only says a 6% commission on the sale price and no flat rate than you may have a recourse and you can contact the agent or the Broker of Record for that agents real estate office to confirm what you signed and what the fees were and then possibly ask to be compensated the difference.  The problem lies though that you have already agreed and signed to sell your house and the transaction is complete, so really the best time to question this would have been at the closing or before.  I know you already know this but it's hard to go backwards once a sale is complete.  Once you review the paperwork and if you confirm that you are entitled to the balance of of the commission, you should contact the agent or broker and discuss this.  If they don't explain it or it seems they are being difficult about it and you are sure you are entitled to money, then the next recourse would be to hire an attorney and bring all your paperwork with you, but hopefully the agent/broker can work this out with you.  Hope this helps.

Real Estate: Pennsylvania

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Tim Meagher

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I can answer or give advice regarding any question related to the buying, selling, renting or leasing of any type of real estate. Including but not limited to residential, commercial, investment, multifamily,industrial, vacation, farm, historic properties, building lots and large acreage parcels. Any question related to how to sell or how to buy. The best way to negotiate whether you are a buyer or seller. How to make an offer, how to set a list price, how to get financing, what to look for in your inspections, how to value an investment property. How to pick the right agent to represent you. Anything related to real estate!

Experience

10 years as a licensed residential and commercial real estate broker in Pennsylvania and New York. I have personally handled the sale and purchase for clients on over a few thousand transactions. The transactions range from small building lots, to 15 story high rise commercial buildings, waterfront homes, investment properties, historic Victorians, new construction, farms, suburban tract homes, development land, etc.

Organizations
National Association Realtors NAR International Council of Shopping Centers ICSC

Publications
Bloomberg Businessweek Wayne Independent

Education/Credentials
BA from Penn State University Brokers License from Pennsylvania Real Estate School and NY Salesperson License from PA and NY Real Estate School Accredited Buyers Representative Eprofessional

Awards and Honors
#1 in Sales Transactions for MLS for 5 years. #1 in residential and commercial sales in MLS. Top 10 in Pennsylvania for residential sales. #1 in Pennsylvania for commercial sales. Hall of Fame Rookie of the Year Platinum Club Diamond Club

Past/Present Clients
Fortune 500 Executives and CEOs Wall St. Executives Over 10,000 satisfied buyers and sellers of residential, commercial, resort vacation home, farms, industrial, historic, and all other real estate transactions.

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