[WSBAPT] Vancouver RE attny

[hhherman2]

It isn't clear what kind of a transaction is being closed. Is it a note and
Deed of Trust or a Contract of Sale? What kind of a "contract" can a buyer
insert a penalty clause in? The Brokers agreement usually provides that the
broker gets paid a commission when he produces a buyer who is "ready,
willing and able" to close on the agreed terms. If the buyer is introducing
new terms he may have poisoned the well and given the seller a way out. In
which case there would be no sale and no commission. I don't practice in
Vancouver either, but I was curious as to what kind of a situation you have.

Howard Herman
Herman Herman & Jolley PS
509.220.5810  

-----Original Message-----
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Scott Hildebrand
Sent: Saturday, March 7, 2015 2:51 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Vancouver RE attny

If he signed the agreement to close, he is probably liable for either
specific performance or money damages to the buyer unless there is a very
good reason to back out.  Also, if he signed an agreement with the broker,
those agreements are usually pretty tight.  I might look for a liquidated
damages clause in the contract with the agent or some other clause like
that.  In the absence of that, he might make an offer to settle so the
broker doesn't have to go to court, delay payment, etc. just to drop it, but
unless there is some weird stuff, I think your client is probably on the
hook for something...

That said, I work in King County, sometimes as far as Thurston, but not
Vancouver.  Good luck!

Scott Hildebrand
Scott.hildebrand22 at gmail.com

-----Original Message-----
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Paul H. Grant
Sent: Saturday, March 07, 2015 1:47 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Vancouver RE attny

Client wants to back out of selling his house; signed agreement but not yet
closed.  Buyer put provision in contract for penalty (so probably only
consequence) but the agent is telling client he will sue for commission.
Not my wheel-house and client wants to meet with an experienced real estate
attny (Vancouver WA) to understand his potential risk if he does bail.
Recommendations are appreciated.

Sent from my iPhone ~ Paul H. Grant

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