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Updated over 11 years ago on . Most recent reply

User Stats

29
Posts
7
Votes
Oscar Martins
  • Rehabber
  • Syracuse, NY
7
Votes |
29
Posts

Broker holding up Short-sale transaction two days from closing.

Oscar Martins
  • Rehabber
  • Syracuse, NY
Posted

Received phone call from my realtor (dual agent), he tells me his broker isnt going to sign off on the transaction due to an issue with their commission. Im not sure what terms were negotiated between the broker & bank. Anyway, we were two days away from closing and my realtor drops this on me. What are my options if the broker and bank cant agree on the rate of commision that is owed? I have threatened to take legal action against my broker & the seller (bank).

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