Replies to This Discussion

Permalink Reply by Jeff Payne on July 31, 2010 at 4:12am

Maryanne, be very careful about discussing commissions, it can sometimes be misconstrued as being illegal. I understand what you are asking and think that each case is different depending on investor, negotiator, borrower, deficiency, and sometimes just the temperature outside :)

Permalink Reply by Jeanne Dufort on July 31, 2010 at 5:07am

My 2nd approved 6%, but SunTrust on the 1st would only approve 5% on behalf of the investor. She did say that other investors might approve 6%, but not this one.

Permalink Reply by maryanne winchester on July 31, 2010 at 1:35pm

Interesting. Working through several situations currently with different banks, and it does not seem that the value of property has any effect on the sales commission. Most likely tied to the investor's net.

Permalink Reply by Ben Benita on August 4, 2010 at 3:44am

Commission is 100% based on who the Investor is on the note, and, like EVERY aspect of a short sale ALWAYS negotiable (we have been able to get 7% and 8% on occaision with private Ivnestor notes).

Ask your negotiator:

1 - is this a portfolio loan
or
2 - Is the Ivenstor on this note a governemetn backed entity (Fannie, freddie, etc.)
or
3 - Is teh Inevstor on this a private investor

MOST negotiator's will tell you the above, some will not and you will need to have your Seller fax in a Qualified Written Request (QWR in banking speak), asking who the investor is as well as their contact info. (you can work MAGIC with this information)