Question

A qualified buyer makes a written offer on a property on March 6 by filling out and signing a purchase offer. Later that day, the seller accepts and signs the offer, keeping one copy. The broker gives a copy of the signed agreement to the buyer on March 8. The seller's deed is delivered on May 1. The deed is recorded on May 7, and the buyer takes possession on May 15. When is the broker's commission payable if this is a usual transaction?

Answer 1

May 1

Step-by-step explanation:

Given that

The written offer was made on March 6

the brokers provides the signed agreement copy to the buyer on March 8

The seller deed delivered on May 1

The deed recorded on may 7

And, the buyer takes the possession on May 15

So here the broker commission payable would be done on the delivery date i.e. on May 1