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Is it illegal to withhold a broker's commission following closing on property sold?
this depends... technically where abouts in the world you are, will make the answer easier to specify. In Europe for example, dependent on contracts or verbal agreements, different countries would acknowledge different requirements.
In a straight forwards case, if you have a contract that makes you an introducer or broker, then you are entitled to the conditions of that contract, and that is recognised by the jurisdiction that the contract is specific to.
Also, there should be payment by dates and penalties for failure to pay within your contract.
If you sell a house and presumed a commission, then there is no legal requirement to pay a com.
real estate is pretty tough, most people get stung on their coms, so it is crucial to keep a hand on the sale and a contract that is strong. A lot of overseas international sales companies put the jurisdiction to the point of sale, say India, and then you are left having to fight your legal corner in a country that you have not even seen.
What else can I help you with?
How much is real estate brokers commission in Ohio?
The normal real estate brokers commission is around 3 percent. Some function as both seller and buyer brokers and make 6 percent.
How much is stock brokers commission?
.5%-5%
Can a real estate brokers commission rate vary?
Yes, the commission that a real estate broker earns can vary depending on the type of broker and his or her contract. Many brokers can even waive their commission in some cases.
What is the meaning of brokers protected?
The term Brokers Protected means that the particular party (usually someone selling real estate) is willing to work with someone (a broker) to sell the property, in exchange for a commission of the sale price. In other words, the seller is just stating that he is ok with a broker contacting him and offering to market the property. They also sometimes use the phrase "Brokers Welcome" or "Broker Sought".
What is the commission rate for a futures broker?
The commission rate for a futures brokers vary according to how much work is in it for them. You can find discount brokers for as little as 59 cents per trade.
Do real estate brokers make base salary and commission?
Brokers make a percentage of what they sell or what their agents (if any) sell.
How do forex brokers make their money?
Forex brokers make their money in three ways:taking a commission on every trade. ECN brokers take direct commission and market makers take the commission through the spread.taking interest on leveraging.some of the market makers will take the opposite side of the trader position and will profit from the trader loss.
How much is the average real estate brokers commission in New Mexico?
The average real estate brokers commission is around 5,000 dollars per transaction. They usually earn 3 to 6 percent of a sale.
How much is real estate brokers commission on raw land in NC?
10%
What do agents and brokers do?
Often called functional middlemen, agents and brokers perform a limited number of services in exchange for a commission that is based on the selling price.
What is the current Colorado real estate commission?
The current Colorado real estate commission manages the exams for real estate brokers and salespersons before giving them a real estate license. The commission also keeps brokers informed of changes in real estate laws, forms and regulations.
Where can one find home loan brokers in the UK?
Home loan brokers, or mortgage brokers, are experts who speak for those looking for property mortgages. One can find home lean brokers in the UK through the site Top Mortgage Brokers.
