Buyer agent not allowed to receive compensation on Indy Mac Sale?

Does anyone have experience with the INdy Mac PEC (purchaser eligibility certification). It indicates that the buyer cannot receive compensation if the buyer is an agent. In my situation, the buyer and her husband are buying a piece of land and the buyer is a licensed agent. Can she still buy the property? Does that mean INdymac will be paying 2.5% rather than 5%. Appreciate any responses from SHort Sale Superstars. MAHALO

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Permalink Reply by Maria Evans on July 9, 2012 at 8:13pm

Banks will not pay a comission to buyer's agent or listing agent if they are acting in their own behalf. Better to do a referral. Most of the time they will pay 6% comission, so it means they will pay only 3% to the listing agent.

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on July 10, 2012 at 2:08am

Ron -

You are correct.  The Buyer can certainly represent themselves, but they will not be paid a commission and you will receive the Listing side commission only.

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