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Capital 1 Commercial Group, INC, Greg Edgecomb,James Rizqalla Unethical Business Practices Farmington Hills, Michigan
The Owner agrees to compensate Broker an amount equal to Ten Percent (10%) of the total purchase price of the business and/or real estate and any rental income during the term of any lease term and any options to purchase that are subsequently exercised, herein set forth or agreed to by Owner and Purchaser, or a minimum of $12,500.00 whichever is greater, in full at closing, or immediately upon the occurrence of any event in paragraph 4 A, B, C, D, E, F or G of this Business and/or Real Estate Listing Agreement:
A) Broker or its agents procure a Purchaser during the term of this Listing Agreement and any extensions hereto, ready, willing and able to purchase or lease the business and/or real estate on the listed price and terms or on other price and terms acceptable to Owner. It is mutually agreed and understood that at this point the Broker has fulfilled Brokers contractual obligation.
B) Owner sells, leases, trades, enters into management agreement, partnership, or Purchase Agreement, or otherwise disposes or jeopardizes the availability of the business and/or real estate regardless of whether the Broker was responsible for such disposition.
C) Owner withdraws or attempts to terminate this Listing Agreement prior to the expiration date.
D) Owner fails or refuses to consummate a sale, complete a trade, enter into a lease, or complete any other disposition following the execution of an agreement to do so.
E) Owner sells, leases, trades, or otherwise disposes of all or any part of the business and/or real estate within two (2) years to any person, organization, corporation, L.L.C., or other entity, its officers, shareholders, members, agents, employees, or relatives resulting from contacts, whether direct or indirect, showings, advertisements, referrals, or other efforts made by Broker or its agents who was disclosed or otherwise became aware that the business and/or property was available during the term of this Business and/or Real Estate Listing Agreement.
F) Owner
fails or refuses to comply with the requirements of any governmental authority
for corrections of violations within 30 days from notification.
G) Owners misrepresentation, fraud, failure or inability to convey title, neglect, procrastination, or refusal to perform the conditions of this Business and/or Real Estate Listing Agreement or any subsequent Purchase Agreement.
1 Updates & Rebuttals
Capital 1 Commercial Group, Inc.
Farmington Hills,Michigan,
United States of America
Capital 1 Commercial Group is professional and ethical
#2REBUTTAL Owner of company
Tue, March 30, 2010
Capital 1 Commercial Group, Inc. is the premiere Business Brokerage firm in the State of Michigan. We have assisted thousands of buyers and sellers sucessfully buy or sell their businesses. Almost always, buyers and sellers are very thankful for our efforts and recommend us to people who may want to buy or sell a business. A visit to our website, www.capital-1.biz will provide actual testimonials from sellers as well as the businesses we have for sale and have sold. Compensation for our services is based on our performance. In the past, we have dealt with some unscrupulous people who have attempted to find a way to not pay us for our services once rendered. As a result, over the years our Listing Agreement has been modified to close "loopholes" through which dishonest, unscrupulous sellers have manipulated the system to cheat Capital 1 Commercial Group. While some of the posting are verbatem from our Listing Agreement, there are some exagerations and misstated items. First, our Listing Agreement does not state "For 2 years after the listing agreement expires you cannot sell to pretty much anyone without owing a commission." Instead, it states that if you sell to anyone who became aware that the business was for sale during the listing period for two years after the expiration date, we are owed the commission. This prevents dishonest, unscrupulous sellers from making side deals to sell to someone we worked with and cheat Capital 1 Commercial Group out of commission that is due.
In conclusion, we look forward to working only with honest, scrupulous buyers and sellers. When someone like the anynomous author of this false "ripoff report" is dishonest and believes they are entitled to cheat and steal, we will indeed protect our interests by suing them if necessary. Therefore, if someone has plans to cheat, steal, and circumvent their contractual obligations with Capital 1 Commercial Group, perhaps that individual should not deal with our company.