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RE: Short sale arbitration - Mar. 11, 2008

In a short sale situation, I did not put in MLS how to divide the shortfall commissions but put that terms and commissions subject to lender’s approval.  Originally, I had 4% for me as a LA, and put in MLS 3% for BA. We have about 4k short.  The BA demands the full 3% wanting me to eat the all loss in commission.  I recommended 3/7 and 4/7 ratios for the whole amount to split, and the lender signed approving this. However, BA wants to go to arbitration, refusing this split. We closed the escrow but did not get to pay.  Escrow holds the money.

The night before closing date, escrow could not balance.  It was short $290 and she had a pad of $250, so I told her that she had enough to close. The following day, she faxed me a shocking note stating that she is short $1800.  I told her not to pay anybody until it is resolved but she said she has paid everybody already except the agents. Nobody wanted to share the loss, and she left me to hold the bag.  BA wants to go to arbitration.  Please help. I am a small independent broker against REMAX and their lawyers.

I requested several times that escrow gives me the business license and the E&O insurance but she refuses. She acts like a pet toward REMAX because she gets more business and ignored my requests on several occasions. Whom I need to contact in the Department of Corporations, and how to solve this complicated issues? Please help. Big thanks.