Can I get a out of a contract withe a business broker because they are incompetant?
Posted January 31st, 2009 by admin 1 Comment »
Erin asked:
We hired a business broker to sell our business back in July and the contract ends July of 2008. The agent is incompetant and his broker is even worse! I want to know if we can get out of the contract with him. I don’t see any clauses that will let us just cancel, but let me tell you what has happened. They found us a buyer that put $5,000 in escrow money down and got picked up by immigration 2 days before closing. I told the agent that I want to claim the money and because I’m licensed in Real Estate…he asked me if I could help him research because he has never done an escrow claim before and neither has his broker. I’m supposed to pay him $10,000 mind you for selling this business and he is asking ME to help him?? He is supposed to be this multi-milliong dollar seller…bull! He told me that his broker told us we should just forget about the money and move on and find another buyer. WHAT??? I HAD TO CALL ESCROW ATTORNEY MYSELF TO MAKE THE FLIPP’N CLAIM!! What the heck!!!
http://www.businessbrokersguide.com/blog/
We hired a business broker to sell our business back in July and the contract ends July of 2008. The agent is incompetant and his broker is even worse! I want to know if we can get out of the contract with him. I don’t see any clauses that will let us just cancel, but let me tell you what has happened. They found us a buyer that put $5,000 in escrow money down and got picked up by immigration 2 days before closing. I told the agent that I want to claim the money and because I’m licensed in Real Estate…he asked me if I could help him research because he has never done an escrow claim before and neither has his broker. I’m supposed to pay him $10,000 mind you for selling this business and he is asking ME to help him?? He is supposed to be this multi-milliong dollar seller…bull! He told me that his broker told us we should just forget about the money and move on and find another buyer. WHAT??? I HAD TO CALL ESCROW ATTORNEY MYSELF TO MAKE THE FLIPP’N CLAIM!! What the heck!!!
http://www.businessbrokersguide.com/blog/