We wanted to share a client success story that happened this month. Like our other attorneys, our Real Estate team takes client consults, listening to their legal problems and offering pertinent legal advice. In this specific consult, a couple phoned us asking for advice on the sale of their home.
This particular couple had lived in their current home for 30+ years and were looking to downsize. Already they had an offer on the house and sent us the purchase offer to review. A primary concern was the $200,000 broker commission which would reduce the clients’ profit on the sale of their home. Feeling stuck between wanting to sell the house, but not wanting to pay such a high fee, they asked us what their options were.
Our lead real estate attorney, Don Eby offered an idea – the couple should respond to the purchase offer with a counteroffer. The counteroffer would make the contract contingent upon the seller’s successful renegotiation of the broker’s fee, from $200,000 to $50,000.
The Counteroffer was accepted as a contingent contract thus pressuring the broker to accept a commission of $50,000. Sometimes its only takes one good idea or a short phone call to save $150,000. We think this client found significant value in the experience and legal advice provided by our attorney.