A Metro Vancouver couple is left facing tens of thousands of dollars in real estate commission fees, even though the sale of their properties never actually went through.
When Mike Armstrong and his wife Jessica set out to sell two cabins nestled in the trees at Lake Errock east of Mission, they had planned to use the proceeds to move to Vancouver Island to be closer to family.
“The Commission Clause does not refer to a closing or completion,” she said. “The Commission Clause read on its own discloses that commission is tied to the existence of an enforceable contract.” Armstrong said a buyer came forward months after the lots were listed in April 2017. Following an extension, the purchase price was eventually set at 1.35 million with a closing date in July 2018, but the sale never happened.
The judge said in April 2018, Vans asked for an extension to close the sale. Armstrong agreed, with Seaside reducing its commission to $52,500 as part of that agreement. The purchase price also increased by $50,000 to 1.35 million, and the deposit was also increased by $10,000. The new closing date was set for July 27, 2018.The Armstrongs argued the sale agreement was unenforceable because the clause requiring Tran to visit the properties again with the help of the seller was never met.
“One of the reasons for these clauses is a Realtor can spend one, five, $10,000 marketing a home…and the seller could just fire you on Sunday at four and then go to the buyer and do a deal,” he said. “Part of this is protecting us as Realtors, which I hope is understandable.”
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