What is the maximum Commission Allowed by Wells on a $30,000 sale?

I am preparing a short sale listing for $30,000.

Will Wells Fargo allow a flat fee rather then the 6%?

If so, what is the maximum? $2500 or $3000 to be split between Seller and Buyer Brokers?

Views: 74

Replies to This Discussion

Permalink Reply by John Treadwell on February 25, 2011 at 8:26am
I like to know that answer , I get 6% on most of those small ones ,but 2500 to 3000. is better .  Knowing Wells Fargo I will doubt they will give a cent more than they have too
Permalink Reply by Loren Hoboy on February 25, 2011 at 10:30am
I ask the question, because HUD often pays a minimum of $1250 Buyer Broker commission (ie. $2500 to both) on these low priced properties.  I am hoping to learn that Wells Fargo will do like wise.
Permalink Reply by Kevin - Greenville, SC on February 26, 2011 at 7:52am
You can ask for it, but in reality you will probably get 6% total. Just received an approval on a $20,000 Short Sale with Chase (Fannie Mae) 6%.
Permalink Reply by Jeff Payne on March 7, 2011 at 7:20am
I agree with Kevin.  You are basically doing ProBono work when you take a short sale with prices that low
Permalink Reply by Kevin - Greenville, SC on March 8, 2011 at 6:56pm
I did however get the purchaser to kick in the rest:)

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