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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54329
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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What does a lawyer at closing use to determine the selling

Customer Question

What does a lawyer at closing use to determine the selling commission to the selling realitor? I have 2 listing agreements. One says 6 percent and a more recent signed one says 5 percent. Now. She wants the 6 percent and says the 5 percent was a mistake. She provided the closing law firm the 6 percent and left out the 5 percent. Is this important for me to peruse with the law firm? Or is the statement of Net payout used instead?
Thanks
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
If she signed a more recent contract that provided for a commission for 5%, she's going to be stuck with that. If she made a mistake, it's her listing agreement and she's going to be stuck with the 5%. You want to pursue this with the closing attorney who will be preparing the HUD-Settlement Statement which will include the appropriate commission. You want to provide the attorney with the 5% listing agreement and let the lawyer know you won't be signing the HUD unless this is corrected. Or, you can contest the 1% and ask that the 1% be put into escrow to be held by the attorney until the issue is resolved in court. Then, with the agent, I would tell her that you are only agreeing to the 5%, that any mistake made is her problem, and that if she doesn't agree, you will be filing a civil suit to recover the 1% from escrow and be filing a formal complaint with the state bar association against her and her broker. This, in my experience, is sufficient to resolve this without the suit, but if not file the suit and the complaint!
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!
Customer: replied 1 year ago.
Sorry this is in the state of Georgia
Expert:  Richard replied 1 year ago.
Thanks for your follow up. The information I provided you will be applicable in Georgia. No worries.

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