How did you end up paying 10%? Usually, you only pay 2% and the balance 8% upon signing S&P.

It all depends on the seller. I once "bought" a similar property but the agent refunded the full 2% to me when he informed me later on the same situation as yours. I was lucky then but in any case, it's only a longer time to settle the case. Not impossible. I presume.

I think the agent has mis-led you as he did not give you the full info. You may want to report him to the Real Estate Association.

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Added on June 18, 2010, 10:28 pmEven if the agent manage to win on the basis that you back out of the deal, I think he is only entitled to half the commission if the S & P is not signed. Real Estate association or institute will be able to help you.

This post has been edited by bk user: Jun 18 2010, 10:28 PM

Agreed. Better for you to check with HBA or Real Estate Association/Institute. Good agent should check status of properties, including obtaining a copy of the title and S&P before selling the property for the owner - Not representative.