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Tuesday, 12 November 2019
Agent Resource Center
Agent Resource Center

Question - If the buyer was agreeable to all of the terms of the listing contract, except that he wanted to buy “subject to” the first trust deed rather than assume it:

Written by Posted On Wednesday, 10 July 2019 05:00

(A) Broker would be entitled to his commission
(B) Broker would not be entitled to his commission
(C) Broker would be entitled one one-half of his commission
(D) None of the above

Answer:  (B) Since the terms of the listing stipulate that the buyer may assume the existing first trust deed, the broker has not brought in a buyer “ready, willing and able” to buy under the exact terms of the listing. His buyer is only willing to take over the loan “subject to.”

Read 2111 times Last modified on Wednesday, 10 July 2019 06:18
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