Sentences with phrase «authority on behalf of the seller»

Not exact matches

Eastern Consolidated Properties, Inc. v. Lucas (285 A.D. 2d 421)- Supreme Court's order to dismiss broker's complaint reversed; broker's complaint sufficiently alleges that certain defendants have the authority to act on behalf of all defendants in the underlying real estate transaction; upon procuring a buyer ready, willing and able to purchase on the seller's terms, the broker has earned its commission and a seller who frustrates the consummation of the transaction is liable nonetheless to the broker; no requirement that a brokerage commission be in writing (GOL 5 - 710 [a][10]-RRB-

This type of error can create issues between the brokerage and the client, in this case a seller, as the brokerage did not have written authority to represent the seller on June 3rd and 4th and may have completed work on their behalf (i.e. listed property on MLS ®, erected a sign on the lawn, etc.).

It's also important that real estate brokers and agents may not (unless they have specific authority to do so from their seller and buyer clients) enter into contracts on behalf of their principals (their clients).