Does B of A pay a commission to a buyer who is also a licensed agent?

Does anybody know if B of A will pay a commission to a buyer/r.e. agent when the short sale property is for her own personal use?

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Permalink Reply by Jeff Payne on May 24, 2011 at 11:56am
This is a pretty common question and the short answer is "maybe" but don't bank on it.
Permalink Reply by Stephen Shafer on May 26, 2011 at 7:28am
No it violates the arms length transaction rules. The buyer needs to be representedby some in his office.
Permalink Reply by Maria Evans on May 29, 2011 at 4:12am

I had a situation like this and thebank paid to the agent who was buying. Keep in mind the broker is the one who is making the comission.

 

Permalink Reply by Laura Rivera on May 29, 2011 at 4:20am
I called the bank as I have yes and no and maybe answers. This particular one, the asset manager said, NO, and it is a conflict of interest. Depends on the investor too. Thanks everyone.
Permalink Reply by Mike Horton on May 29, 2011 at 9:51pm
I think you may be in hot water. It pretty clearly states in bank documents that the seller is not to receive any funds from the transaction. I would revew this with your broker and have legal counsel go over the arms length form. 

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