The broker who sold an apartment in bankruptcy get paid?

The owner of a Co-op in NY, entered in a written agreement with a real estate broker not telling him that the apartment is in bankruptcy.The trustee aprove the sell of the apartment.
The buyer is my client, and before closing I found that is the problem with the apartment.I have no ideea if I will receive my commision!

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2 Responses to “The broker who sold an apartment in bankruptcy get paid?”

CrG Says:
December 1st, 2009 at 7:31 pm
Yes, probably 10%.
dave c Says:
December 2nd, 2009 at 2:40 pm
If the property closes broker will get paid. the title company will be instructed by broker to have a commission check cut for them. Also if the court has ordered the sale or approved the sale in bankruptcy then the broker’s listing will be honored and the proceeds will be available to pay broker.
If the broker showed the property to a buyer and that buyer bought the property the broker will get paid by law. To try and sell this property to the buyer that was procured by the broker without paying the broker is not legal. They call it tortuous interference. Basically it means that you are interfering with a contract. That contract of course being the listing contract that seller and broker has with each other. The property ownership is also an issue. If in bankruptcy the property is turned over to a court appointed judge then the judge makes decision whether the property will be sold. The commission however may still be owed to the broker if the client was procured and the listing contact was still in force. How ever you didn’t mention who owns the apartment building.
The vague nature of the question with few details make my answer not as complete as it could be. The following issues come to arise when trying to answer this question.
Did the broker at time of sale have apartment listed? Did the owner maintain possession through out the bankruptcy?
Did the court appointed judge ok this sale?
Was the buyer of apartment procured by the broker?
The last question was is this listing contract a legal contract as we have yet to know that? You have a number of things that should be looked at by legal council. Get a good real estate attorney and pay them for a couple hours to answer these questions? Hope it helped.