Gary Scott
  • Arizona
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Gary Scott's Discussions

Equity Line of Credit

Started this discussion. Last reply by Brian Avery Apr 4, 2012. 2 Replies

I am taking a SS listing that has a first and second, the second being an equity line of credit of around $40,000 used for something other than the house. This home is a rental home. The money from…Continue

HAFA List Price

Started this discussion. Last reply by Kevin - Greenville, SC Mar 22, 2012. 2 Replies

I took a short sale listing, with the homeowners applying for HAFA, just after I listed it. They were accepted into the program and the bank came back with an approved list price. I received an offer…Continue

HAFA Procedures

Started this discussion. Last reply by Joy Baker Mar 4, 2012. 5 Replies

My sellers were told that they qualified for the HAFA program. An appraisal has been ordered by the bank. I know that HAFA will set the pricing guidelines. Since the home is currently on the market,…Continue

Termite Treatment

Started this discussion. Last reply by Brian Avery Feb 21, 2012. 2 Replies

I have an approval letter from Wells Fargo, due to close near the end of March. The inspection revealed termites yesterday and some baseboard damage from them. The seller is due to receive $3,000…Continue

 

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Profile Information

First Name
Gary
Last Name
Scott
State
Arizona
City
Scottsdale
My Profile
17 years in real estate sales in Arizona.

Gary Scott's Blog

Referral Fees

Posted on July 5, 2012 at 9:24am 0 Comments

Hi Everyone,

I have a situation where the father of the property owner is a licensed real estate agent. The owner is in default and would like to proceed with a short sale. Is there any conflict with the "Arms Length Transaction" if I pay him a referral fee? Has anyone else encountered this? Thanks.

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