Legal Question in Real Estate Law in Maryland

Commercial Real Estate Offer

I just received an offer to buy my commercial property in MD through a broker. The offer provides that seller pay a 7% commission and also recognizes the broker as the ''broker/agent responsible for the transaction''. Is the broker representing the buyer, me, or both? Also, is 7% a reasonable amount is such cases, and should I be paying it?

Asked on 8/23/08, 10:39 pm

1 Answer from Attorneys

Carter Ferrington Bar Adon Vogel PLLC
0 users found helpful
0 attorneys agreed

Re: Commercial Real Estate Offer

The broker or agent should be providing you with information about who parties represent in a real estate transaction and should have disclosed exactly whose interests he/she is representing. Please ask for a clarification of this in writing.

Whether a 7% commission is reasonable in this transaction depends upon the size and complexity of the transaction and how great the offer is. Getting independent advice from your own expert would be a good idea.

Read more
Answered on 8/24/08, 8:39 pm

Related Questions & Answers

More Real Estate and Real Property questions and answers in Maryland

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now