Any real estate agents here?

[Synergy]

I'm getting ready to sell a rental property and I was looking over the papers. A couple of things caught my eye.

1- If the buyer were to back out of the sale, this contract says the earnest money would go to the broker. Is this typical?

2- Listed is an additional transaction fee (other than the commission) of 250.00 to the broker,
No explanation. I know it's not much, but Is this just an arbitrary junk fee thrown out there? Is this common?

Thanks

 

[aja8888]

I'm getting ready to sell a rental property and I was looking over the papers. A couple of things caught my eye.

1- If the buyer were to back out of the sale, this contract says the earnest money would go to the broker. Is this typical?

2- Listed is an additional transaction fee (other than the commission) of 250.00 to the broker,
No explanation. I know it's not much, but Is this just an arbitrary junk fee thrown out there? Is this common?

Thanks

No on both. You need to find a new broker.

 

[Dash man]

No on both. You need to find a new broker.

+1000

 

[finnski1]

No and No!

 

[Synergy]

Thank you all very much. Do you mind me asking if any/or all of you have a background in real estate? I've done business with the realtor in the past and I want to make sure before firing her. We're in the preliminary stages and I have not signed anything yet.
Thanks again,

 

[Dash man]

Thank you all very much. Do you mind me asking if any/or all of you have a background in real estate? I've done business with the realtor in the past and I want to make sure before firing her. We're in the preliminary stages and I have not signed anything yet.

Thanks again,

I own five properties and have had several rentals. Honestly, with what you said I might consider reporting her to the county Board of Realtors. Drop her like a hot potato.

 

[calmloki]

Maybe 10 sales or so of our rental places here - have run into the earnest goes to broker clause once or twice - questioned it, it was changed, no argument.

 

[Synergy]

I just reviewed the same page from the sale of my house (by the same agent)
from last summer and she had put 100 percent of earnest money goes to seller, which leads me to believe she may have just made a mistake this time. Now, on the 250.00 fee, I will need to ask her about that.

Thanks very much everyone.