$37K Real Estate Agent Commission Due on Dead Deal?

After a recent down turn in the Greater Toronto area housing market, a family looking to upgrade to a larger home – later decides to back out of an agreement to purchase.

“We didn’t end up in the house, we lost a large deposit. So how do you go about thinking you are allowed your commission? The deal never went through,” Anita Mastroianni said.

The FAMILY decided to walk away and not close the home purchase… They knew they would lose their deposit, but they didn’t realize they would be on the hook for so much more.

Vince Tarasca, the real estate agent on the deal says, “This is a case of a client taking advantage of the current situation of the housing market due to buyer’s remorse.”

At this time it appears as if the matter will need to be settled in court. The agent says any money recovered will be donated to charity.