Hi all, a query in regards to a deal I’m working on at the moment.
Vendor has pulled out of deal due to distaste with Real Estate agent. I have managed to look at a private deal with her, though obviously as I was introduced to vendor through the RE agent vendor would owe commision.
My question is, by establishing a new contract with trust as purchaser does this in anyway change the circumstances other than masking the original purchaser name?[blink]I believe if you wait a period of 3 months until the exclusive agency expires, there is no problem. Give your state Real Estate Institute a call and tell them the story and see what they say.
Robert Bou-Hamdan
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E: [email protected]
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Comments made are of a general nature and should not be construed as individual advice.
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Trusts are not legal entities, so they cannot purchase. It would be the trustee that signs the contract. If an a company is trustee, the director would be signing for the company.
I suppose if the original person is a trustte, or director, then it was the agent that introduced them, so the agent could claim for commission. Read the contract you signed as some may even allow a commission after 3 months if it was a client they the agency introduced.
Terryw
Discover Home Loans
Mortgage Broker
Click below to email meTerryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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