What if the Buyer rejects the merchandise in a Broker transaction?
When the Buyer rejects the merchandise, they are required to return it to the Seller within 10 days of rejection. The Seller will have a 5 day inspection period to inspect the returned merchandise. Based on the Seller's acceptance of the returned merchandise, the Buyer is refunded the original payment less the entire escrow fee and any original shipping fees. The Broker commission is considered a success fee; the Broker will not receive the commission unless otherwise stipulated in the escrow agreement. In the event of a cancellation (after funds are received) or rejection of merchandise, the Buyer is responsible for the escrow fee regardless of whomever (Buyer, Seller, or Broker) is set up to pay the fee.