Forum

Posted by Laura Rivera on May 24, 2011 at 11:19am in Short Sale Discussions

Does anybody know if B of A will pay a commission to a buyer/r.e. agent when the short sale property is for her own personal use?

You need to be a member of Short Sale Superstars to add comments!

Email me when people reply –

Mike Horton May 29, 2011 at 9:51pm

I think you may be in hot water. It pretty clearly states in bank documents that the seller is not to receive any funds from the transaction. I would revew this with your broker and have legal counsel go over the arms length form.
Laura Rivera May 29, 2011 at 4:20am

I called the bank as I have yes and no and maybe answers. This particular one, the asset manager said, NO, and it is a conflict of interest. Depends on the investor too. Thanks everyone.
Maria Evans May 29, 2011 at 4:12am

I had a situation like this and thebank paid to the agent who was buying. Keep in mind the broker is the one who is making the comission.
Stephen Shafer May 26, 2011 at 7:28am

No it violates the arms length transaction rules. The buyer needs to be representedby some in his office.
Jeff Payne May 24, 2011 at 11:56am

This is a pretty common question and the short answer is "maybe" but don't bank on it.

This reply was deleted.

#xg { position:relative;top:120px; } #xn_bar { top:120px; }

Please check your browser settings or contact your system administrator.

********************************** like buttons ************************