Brought a willing & able buyer who closed escrow upon the property (with signed buyer's exclusivity agreement),
Signed Escrow instructions for commission as agreed in Multiple Listing Service (CARETS) of 2.5% of negotiated price
Became physically ill and incapacitated upon the last days of a protracted escrow and unable to communicate in the last days. However remained in loose basic contact with loan officer (basic updates on status).
Was terminated from brokerage on 11th of the month
The team I had set up for the transaction closed the deal as it was already in their hands of expertise (loan officers, escrow officers, etc)
Deal Funded and closed 20th of the month
Brokerage claims that they have forfeited the commission to the buyer.
Do I have right to demand payment from the brokerage for bringing a willing and able buyer who closes escrow?
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1 Answer from Attorneys
This is a CONTRACT question (shouldn't be in Workers Compensation).
It appears your performance on the contract was complete.
You always have the 'right' to demand payment; the true question is, would a judge award specific performance on the contract with these facts, ordering the broker to pay per the agreement...
A Workers Compensation attorney would estimate 'probably' but try a PROPERTY or CONTACT specialist ... it sounds like you completed your requirements per the written agreement, it is likely at trial you would be found to be in 'substantial compliance' with the terms of the contract, but confirm that with the right specialist!
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