How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TJ, Esq. Your Own Question
TJ, Esq.
TJ, Esq., Attorney
Category: Business Law
Satisfied Customers: 12030
Experience:  JD, MBA
9373668
Type Your Business Law Question Here...
TJ, Esq. is online now
A new question is answered every 9 seconds

what could happen if I sign an exclusive agent contract but

Resolved Question:

what could happen if I sign an exclusive agent contract but buy a foreclosure through another agent
Submitted: 7 years ago.
Category: Business Law
Expert:  TJ, Esq. replied 7 years ago.

Hello and thank you for allowing me the opportunity to assist you.

Question: “what could happen if I sign an exclusive agent contract but buy a foreclosure through another agent”

Answer: Well, the agent with the contract will be able to successfully sue you for the commission (probably 3% of the sales price). So, you could end up owing the agent several thousand dollars that you'll have to pay out of pocket.

Have I satisfactorily addressed your concerns? If not, then please feel free to ask for clarification.

If the information that I provided was helpful, then please remember to click the green accept button so that I will receive credit and compensation for my time. Positive feedback is always appreciated as well. Thank you and good luck!

.

DISCLAIMER: Please understand that the complexities of most legal problems cannot be adequately addressed in this setting, and that I am only licensed to practice law in the State of Maryland. Accordingly, by continuing in this discussion and/or by “accepting” my answer you acknowledge that (1) we have not formed an attorney-client relationship, (2) my answer is general information only and is not legal advice, and (3) you should not rely on my answer in undertaking any course of action without first consulting with an attorney in person who can review all relevant facts.

TJ, Esq. and 2 other Business Law Specialists are ready to help you

Related Business Law Questions