At a settlement last week the sellers and buyers renegotiated the contract price. A home inspection was done about a month ago and noted several repairs that needed to be made. Most were problems that the sellers and I, the listing agent, were aware of so there were no big surprises.
The sellers agreed to the addendum that spelled out the repairs the buyers requested be done prior to settlement.
They were going to be done...they were going to be done...they were going to be done...they were not done.
While the sellers and buyers renegotiated the price, with little input from the agents, the attorney was 
like a fly on the wall...very unobtrusive but he did not miss a word. As soon as he sensed a meeting of the minds he proceeded to wrap things up.
At this point the selling agent left the room and shortly after I was called out. The HUD statement was being revised and I was asked if the commission would be paid on the contract price or the reduced price.
The answer: The listing agreement specifies the commission will be a percentage of the sale price.
Reminder: Stay focused when the situation is fluid and remember prior agreements that must be honored.
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If you or someone you know is thinking of buying or selling property at or near Lake Anna, please contact Kathleen "Kate " Elim. Kate lives at Lake Anna, knows Lake Anna, loves Lake Anna, and specializes in Lake Anna area real estate.
Call Kate at 540-226-1964 or by e-mail at lakeanna.kate@gmail.com. Be sure to check Kate's Web sites and blog at http://lakeannaandbeyond.com/ or http://lakeannacountry.com/
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Good one Kathleen, It was probably not enough to make a big difference. I think those are the types of things that make agents look petty.