Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on December 22, 2010 at 7:19pm

Jodi -

If this is happening in EQUATOR, it's a system automated change... just correct it to 6% when you submit your counter-offer back to the bank.  It will be accepted.  I have not had any BofA deals with a reduction in commission for several months.

 

Best of luck,

Thom Colby

Broker

Newport Beach CA

Permalink Reply by Kristie DeLay on December 23, 2010 at 1:58am

Jodi,

If you are double-siding the sale, they will only pay 5% (at least that's what my "negotiator" told me), but Thom is right, just counter @ 6% if there's two of you. Good luck!

Permalink Reply by Wendy Rulnick on December 23, 2010 at 3:38am

Jodi - Also - if it is not just the Equator "glitch" as the other commenters say, CALL and discuss with the negotiator.  Sometimes if they are trying to meet a threshold for the investor, they may raise it if you increase the net.  Example:  higher contract price, lower HOA fees, etc.

Permalink Reply by Jodi on December 23, 2010 at 8:39am

Thank you so much!  I will change it on equator now and see if it gets rejected. 

Thom Colby said:

Jodi -

If this is happening in EQUATOR, it's a system automated change... just correct it to 6% when you submit your counter-offer back to the bank.  It will be accepted.  I have not had any BofA deals with a reduction in commission for several months.

 

Best of luck,

Thom Colby

Broker

Newport Beach CA

Permalink Reply by Jodi on December 23, 2010 at 8:40am

Thank you so much!  I will change it on equator now and see if it gets
rejected. 


Kristie DeLay said:

Jodi,

If you are double-siding the sale, they will only pay 5% (at least that's what my "negotiator" told me), but Thom is right, just counter @ 6% if there's two of you. Good luck!

Permalink Reply by Jodi on December 23, 2010 at 8:41am

Thank you so much!  I will call the negotiator again if the equator idea does not work!

Wendy Rulnick said:

Jodi - Also - if it is not just the Equator "glitch" as the other commenters say, CALL and discuss with the negotiator.  Sometimes if they are trying to meet a threshold for the investor, they may raise it if you increase the net.  Example:  higher contract price, lower HOA fees, etc.

Permalink Reply by Wendy Haisley on January 4, 2011 at 7:05pm

This may be an investor on this that is not GSE and only pays a max of 5%.  Once you change it back in Equator, it will go back to 5% every time the offer goes back and forth.  You have to keep changing it back to 6%.  If it is an investor that only pays 5%, then negotiator will put note on the Equator offer worksheet stating investor pays max of 5%.  Then it usually becomes non-negotiable.

Permalink Reply by Jeff Payne on January 5, 2011 at 6:55am

Kristie, The negotiator may have been referring to a particular investor but MOST of the time a double sided deal with get 6%, almost all of the time it will pay 6%

Kristie DeLay said:

Jodi,

If you are double-siding the sale, they will only pay 5% (at least that's what my "negotiator" told me), but Thom is right, just counter @ 6% if there's two of you. Good luck!