BofA commissions on low value properties.

I have 10 properties in NY I am short selling with BofA with individual purchase prices of $10,000 each. Does anyone know what the commission BofA will set? Usually it's 5-6%, but is it raised for such low value properties? For the most part, brokers charge $2,000 minimum for such deals in my area. Anyone have any experience with this?

 

Thanks for your help.

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Permalink Reply by Jeff Payne on November 8, 2011 at 9:48am

I would guess that most likely they will get paid 5 to 6%. it is simply a business decision for the broker to take such a low priced short sale

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