The buyer for a short sale was brought by his sister, a local broker.
The lender is WFB--is there any way with full disclosure that this deal can be allowed to happen?
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We got by that hurdle. The WF rep checked with a supervisor on this and we are okay with this issue. Now I just have to get by the fact that on our county tax website the header for each tax record lists the town in which the property owner lives as a field that the rep mistook for the town the property is in. She wants me to send her county tax records showing
the town the property is in and believe it or not, the county tax records don't show that. This morning she was insisting
I change the contract to read the property address in a town that is 15 miles away, because that's what she got from the county site. Now, in order to prove otherwise I have to send her something from the county tax records to demonstrate
otherwise and there is nothing I can send her that proves this. The legal description is there, but it doesn't include the town. I sent her a copy of the WFB deed of trust with the address clearly stated in it. Don't know what else will satisfy her. I had a gal from the county tax office send her an email explaining what that particular field in the header refers to.
I've had agents write on the ALT form that they were related. I've seen 1 BOA approved sale and one WF approved that way. I am now working on a PHH sale where the listing agent is related to the buyer and we had her write on the ALT that she was related to the buyer. Two things could happen; - She loses commission as Bryant said or they'll shut the file down and make us start over with someone else.
Unless the buyer and broker have a relationship with the seller you should be ok. They may however cut the commission since they don't want the buyer receiving funds from the closing. Just do an agreement with the selling broker that they will get paid but only of the lender allows it.