In the absence of language to the contrary, a real estate broker in New York becomes entitled to a commission when the broker produces a purchaser who is ready, willing, and able to consummate the sale.
Conditions Precedent in Brokerage Agreements
In the absence of language to the contrary, a real estate broker in New York becomes entitled to a commission when the broker produces a purchaser who is ready, willing, and able to consummate the sale. That is, if the seller changes its mind, or proves unable to deliver title, the seller remains liable for the broker's commission. Dispute about whether broker has procured a ready, willing, and able buyer has generated considerable litigation, but those disputes are not the subject of this article. Instead, this article focuses on the import of "language to the contrary" -- language that purports to alter the common law obligation of the seller to the broker.
By
Stewart E. Sterk
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