(Ontario)
Question:
If a buyer has a buyer agency but the commission is crossed out and the holdover is crossed out then are they just liable until the end of the contract?
Answer:
Not quite sure what you mean by the commission being crossed out. If that is the entire clause, then, there’s no entitlement. If the percentage amount is zero or crossed out, then there is still the clause stating that the Buyer’s Representative is entitled to the commission offered by the Listing agent, or the Seller. If there is no holdover clause, then, it ends, when it ends.
Further Information:
The whole section of commission crossed off and initialed by buyers including holdover.
Further Response:
Very interesting that you would say that. If all of Paragraph 2 is gone, then, really, there’s no contract. One of the basic contract elements namely “price” would be missing.
Most of the time, when there are alterations here, it’s just the percentage, but the part where it says “the Brokerage is entitled to receive and retain any commission offered by a listing brokerage” remains intact. If that were the case, then the answer to your question would be “yes”.
However, if the whole Paragraph has been deleted, then there’s no contract at all.
Brian Madigan LL.B., Broker