Lawsuits can be brought by anyone for anything, so yes, a real estate agent may sue a buyer.
Now, there has to be a good reason to do so in order for the legal action to not be considered "frivolous" and thrown out early in the court process.
An agent may consider bringing a civil lawsuit against a buyer if the agent believes that buyer misrepresented themselves during the purchase process (resulting in an incomplete transaction and a loss of commission). The transaction, however, would need to be large in order to warrant such costly action.
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
It can vary but the traditional rate is 6% split evenly between the seller's agent and buyer's agent.
In the US, although regulated by individual states,dual agency must be disclosed to all parties in the transaction. Undisclosed dual agency may result in a loss or suspension of a real estate license. For example, Agent A and agent B both work for Remax DC. If Agent A has a buyer who writes an offer on Agent B's listing there is dual agency (assuming that Ahas a buyer's agency agreementand B has a listing agreement) because both buyer and seller have an agency relationship with Remax DC as the principal. This is perfectly legal as long as all parties are aware and give their consent.
COBA: Compensation to Buyer's Agent COTB: Compensation to Transaction Broker CONR: Compensation to Non-Representative
Usually a real estate agent is not a party to the transaction, unless that agent is either the seller or buyer or has an interest in either side. The fact that he may be representing either the buyer or seller or even both does not make him or her an interested party in the agreement. Most states real estate laws clearly state that should an agent have an interest in either side of the tranaction then both parties must be notified for that interest. Thats why you often see and agent sellling his own home, even as a for sale by owner, the advertising and signs should mention that the home is agent owned. Its all about ethics more than the law. From www.zerotorealestatehero,com
This may vary by state, but in most markets the buyer's agent's commission is paid by the Seller. In some markets a buyer's agent may charge a retainer fee to a buyer client for their services.
A buyer agent has the job of acting as an agent for someone who wants to buy something. Often this might be a property but sometimes it is a business that the buyer wishes to acquire.
A buyer agent has the job of acting as an agent for someone who wants to buy something. Often this might be a property but sometimes it is a business that the buyer wishes to acquire.
Only if the owner is acting as the agent, otherwise the agent can notify the buyer.
A fee paid to agent to refer a buyer or seller. For example, an agent may have a buyer moving to another state, that agent sets up a referral agreement with another agent in the town the buyer is moving to. If the buyer buys a home through that agent then the referring agent gets a percentage of the commission usually 1/4 of the commission paid to the selling agent. George www.landincorporated.com Thats George at http://www.landincorporated.com
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There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
The SELLER usually pays all the commissions. The buyer's agent usually gets a split of the realestate contracted commission. If the deal calls for a 4% commission, the listing agents gets 2% and the buyer's agent 2%. If you are sellinga home, you would usually pay the buyer's agent some agreed upon amount.
The co-buyer can sue the buyer in court and provide proof of payments and be repaid the amount put in.
Typically a percentage of the sale that funds when escrow closed. 3% is normal, though generally the buyer's agent and the seller's agent split the commission 50/50. If the buyer has no agent, a partial refund is sometimes given to the buyer. sometime fixed amount may also be charged from buyer or seller insted of percentage.
A purchasing agent doesn't work for the company. A buyer works as an employee for the company. Buyers and agents can work together.