Miami is the backdrop for many luxury homes, some worth millions of dollars. As in all states, when a broker or agent sells a home, the seller is typically obligated to pay a commission. This issue is the central focus of a real estate dispute that is brewing in another state.
A broker who recently spoke with reporters said she is proud and happy to have made a record-breaking sale in her region. The transaction included one house and a specific amount of cash being exchanged for a mansion. The overall sale was worth $76 million. However, on the day the sale closed, an attorney representing the broker filed a lawsuit in civil court alleging that the seller refused to pay his client the agreed-upon commission.
Broker is seeking 2% commission on $76 million
The claim states that the broker is owed $1.72 million for the largest home sale ever transacted in Aspen. The seller has since filed a motion to dismiss, on which the court has not yet ruled. The seller claims that a commission was, in fact, offered to the broker. However, it was much less an amount that was reflective of the minor role she allegedly played in selling the house (the valuation of a companion property to be included in the sale).
This is a complex case that involves allegations from both sides. For anyone facing a similar real estate dispute in Florida regarding commissions or other transaction issues, it is wise to consult with an experienced real estate law attorney before heading to court. Such an attorney is specially trained to review contracts and determine whether terms have been breached.