Question: Yesterday I signed a contract to purchase an apartment offered to me by broker A, to my surprise this morning, broker B called me and offered me another apartment in the building that I wanted very much and at the same price as the apartment I signed last night. I spoke to the seller of the apartment I signed and he agreed to cancel the contract without fines, the question is whether I should pay broker A a brokerage fee, or am I exempt from the brokerage payment since the transaction has been cancelled.
Answer: Since the broker’s work has come to an end with the parties signing a binding purchase contract, you must pay the broker the full brokerage fee. Canceling the transaction does not prevent the obligation of the parties to pay the broker, since the transaction was canceled with the consent of the parties, which was not due to a mistake.
However, if the transaction was cancelled because of a mistake, in such a way that it turned out that no transaction was ever made and in the opinion of which the parties did not sign, there is no charge to pay brokerage fees.
