I am a realtor and am in the final stages of purchasing a short sale for myself.  It was just brought to my attention that I am not entitled to my commission on this purchase as the buyer's agent.  Has anyone ever encountered a situation like this? 

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If you are a Realtor representing yourself on the purchase of a short sale sometimes you can get a commission and sometimes you can't.  It depends on the type of short sale (i.e. FNMA, FHLMC, HAFA, FHA, VA, etc.) and investor on the loan.  There is also the question as to why you would want a taxable commission when you could just reduce the price by 3% or get closing cost assistance instead.

Jim,

Unfortunately my closing date is set for January 19th (after 8 months of waiting) and I just found out about the loss of the commission. I am in no position to renegotiate the sale price at this point unless I want to potentially wait another 8 months to get this deal done.  I just wish I would have been informed of this situation when we first submitted our bid.  Water under the bridge at this point.  Thanks for your response.

Did you disclose from Day 1 that you were both buyer and agent ?

Yes

If you were clear in informing the Lender / Servicer that you were both the agent and the Buyer, they should have told you you would not earn a commission.  However, that does not mean the Listing Agent is not receiving the total Commission.

Often education is expensive. Good luck on your closing, Charles. 

Jim is right, TOTALLY depends on the Investor and the situation.....I would go for the cash if I were you!!!

Ive never heard of a Realtor getting a commission on self as Buyer for a short sale. 

I have sold multiple short sale listings to Buyers who were also Realtors and in most cases they were able to collect a commission for representing themself.  Again, it depends on the type of short sale.

Every lender is different, but I always recommend and agent of record when performing a personal transaction, so there are no misunderstandings.

Yes. Best bet is to have another agent represent you and take a referral from the other agent. Most of the time the other agent can not be in your same office.

I've never seen a buyer/realtor representing themselves get a commission... and you shouldn't get someone else to represent you and pay you a referral either. Most cases you sign an arm's length addendum that specifically states you will not receive any monies. I'd be interested in knowing what short sale lender paid a commission to a buyer who was an agent. I would almost bet it shouldn't have happened.

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