Commission Agreement Commercial Real Estate

Sep 15, 2021 von

However, if the owner has not recalled that the buyer also assumes the obligations of the owner in the separate commission agreement, he may find himself in an uncomfortable situation of being required to pay a commission when extending the lease or extending the leased space, well after the owner has sold the building. The takeover of a rental contract by the buyer does not implicitly imply the assumption of obligations arising from a corresponding commission agreement. There are at least three types of listung agreements that can be used in commercial real estate transactions. The first and most common form is the exclusivity agreement. In this type of listing contract, the listing broker is entitled to a commission, even if the owner sells the property without the listing broker being involved. . . .

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