Hi everyone,
This is my first post and I look forward to networking and sharing wisdom within this group. I've run this past my broker and my negotiating firm and they both gave me a thumbs up but I know this is a specialized group. I have an investor buying a short sale about $20,000 below market value. While screening buyers before accepting an offer, this investor said he would pay the approved price and pay my brokerage an extra $15,000 of commission on the HUD. Our commission is small on this deal but my guys negotiated a tremendous price. It's a $45,000 and similar properties go for $65,000. Can I receive this bonus to my brokerage for a job well done and perhaps itemize it as a consulting fee? The buyer is paying cash. Thanks in advance for everyone's input. God bless.
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Most banks/investors have a commission cap ( Typically 6% or 5%. ). I've processed an extremely large volume of short sales and probably all mortgage servicers/investors would deny an extra commission fee right away. If a bank approved this to go through escrow as part of the sale towards you or your brokerage, I'd be extremely surprised and the thought that they may of signed off on it as a mistake would likely cross my mind. It never hurts to try though and I apologize to be negative!
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com