on a bulk REO real estate transaction, who pays the commision to the broker? the bank or the buyer?
Friday, April 16th, 2010 at
12:26 pm
Will the bank charge the buyer to help pay the commision
Tagged with: real estate
Filed under: REO Brokers
Like this post? Subscribe to my RSS feed and get loads more!
BANK PAYS COMMISION….YOU PAY ASKING OR AGREED UPON PRICE WICH WILL INCLUDE COMMISION
kristy obviously has never done a bulk REO!
the buyer ultimately pays it. the way it works is typically 2-3% of the amount is paid and that fee is split between the mandates on both sides. there are usally 2 mandates and an intermederary. sometimes two intermederaries. A huge problem exsists when too manyu people get involved i see this alot and greed is rampant not uncommon to have intermederaries say they have several people between them when in fact ther is not and they are just trying to get bigger chunk. be very careful of people telling you that the madates each get a thrid and intermederaries get a third. This is not the way it should go! the reason they set it up this wway is to be pigs these types of people are pigs and the deals never happen.