The real estate agency should be entitled to a commission only when the entire real estate transaction is successfully completed. That is, when the buyer is registered in the real estate cadastre and the seller receives the money. As the lawyer Pavel Strnad from AK Polverini Strnad points out, however, the commission is often tied to the signing of the purchase contract. According to him, such a deadline is really premature and the seller, who usually pays the commission, could lose his money. The signing of the purchase agreement does not mean that the sale of the property will always be successfully completed.
“Even at the present time, when the demand for real estate is really huge and their sale is relatively easy, it is worth carefully studying the conditions of the real estate agency that mediates the sale,” says lawyer Pavel Strnad from AK Polverini Strnad. “Very often we find that the real estate agency is entitled to a commission linked to the signing of the purchase agreement. However, the transaction may later become more complicated and the seller will pay the realtor, but the property will not be sold. Therefore, I recommend that you be interested in the term of the commission entitlement already in the phase of selecting a real estate agency and thus protect your property. ”
There are many reasons why a real estate business may not end up despite a signed purchase agreement. The majority are problems with registering a change of ownership in the real estate cadastre – from formal reasons to really fundamental matters that cannot be easily resolved and will prevent the completion of the sale. For example, there is a frequent discrepancy between the deed of deposit and the proposal for a deposit regarding co-ownership shares in related land or an incorrect definition of the housing unit. The sale will also not take place if one of the parties withdraws from the purchase agreement. However, the completion of the transaction may be prevented, for example, by the death of one of the participants. “The real estate agency should be entitled to a commission until the cadastral deposit is made and the purchase price is paid,” emphasizes lawyer Pavel Strnad from AK Polverini Strnad.
