Arm's length Transaction

I am just making sure that Wells Fargo will not have a problem approving a short sale and paying a commission when the buyer's agent and buyer are related. I am writing an offer now for my step daughter and after reading all of their requirments for arm's length transactions I began to wonder. Has anyone ever been in this position. The listing agent is also the mother of the seller and she is not taking a commission.

0 members like this

Replies to This Discussion

Permalink Reply by Jim McCormack on February 23, 2013 at 6:19pm

You should be OK on the buy side. I have had Realtors purchase my short sales for themselves and most were able to get a commission on their purchase.

Permalink Reply by Bryant Tutas on February 24, 2013 at 1:01am

They may very well come back and not be willing to pay any commission since both agents are related to the parties. It shouldn't affect the short sale just the commission.

RSS

Welcome to
Short Sale Superstars

Sign Up
or Sign In

Or sign in with:

Members

View All

Badges | Report an Issue | Terms of Service

Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.