realtor and ss purchase for primary

[K Murray]

Ok, REALLY long story, won't bore you with the details...just he facts. Short sale purchase for primary residence, rec'd bank approval (relators agrees to take 5% instead of 6%), tilte work came back with IRS leins. Homeowner attorney is working iwth IRS to move then to homeowner's 2nd property. Whie this is going on, my attorney informs me that if the hose does not close by the bank deadline (we are ready, just waiting on lein removal) that the realtors take a second commission cut, down to 4%. The realtors claim that they never agreed to this part (it is in the short sale contract) and will kill the deal entirely if this happens.
Haven't spoken to attorney yet, but will.

So question....Can they do this? Do I have any recourse? I realize that they are playing chicken and want me to come up with the money, but no go. So just looking information and advice.

Thanks, you guys really are the best information that I have and I dfon't want to go to the attorney unknowledgable.

callie

[Maryann L.]

Yep. In my area they can do it. Their contract is with the homeowner for 6%. So that's what they agreed too. If they start complaining, you better figure out how you can work it out. MOST Realtors will take what they can get because NO one wants to see the homeowner go to foreclosure and that would be pretty damn selfish if that happened over 1-2% - I would let the homeowner know right away so they could have a discussion with the Realtor about it and hopefully the Realtor will agree.

If not, then you have a JERK of a Realtor and if you want to hold the deal together, I'd bring that 1-2% to the table if you can.

I think the bigger issue is the IRS lien though. Those are tough. I lost a house to a $100,000 IRS lien that no accountant or attorney could work on. Good luck.