Teresa B Cooper
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Compensation for Negotiators

Started this discussion. Last reply by Joseph Alfe Dec 5, 2012. 10 Replies

I just spoke with a Bank of America representative regarding compensation for short sale negotiators. She told me that BoA will pay compensation to attorneys, title companies, and other non-realtor…Continue

3rd party negotiator or Realtor negotiator?

Started this discussion. Last reply by Jeff Payne Sep 24, 2012. 15 Replies

As a Realtor (and a CPA), I used to negotiate all my own short sales, and had an almost 100% success rate.  About 2 years ago, I started using a 3rd party negotiator - a local law firm.  My success…Continue

Tags: Realtor, negotiator, party, 3rd

 

Teresa B Cooper's Page

Latest Activity

David A. Roebuck replied to Teresa B Cooper's discussion Buyers' Agent related to Buyers in the group Wells Fargo Short Sales
"They're right -- haven't seen one Short Sale yet where an agent has collected commission if related to the buyer and/or seller -- or if they are purchasing for themselves."
May 5, 2014
Dean E Eshelman, CPA, CDPE, IRES replied to Teresa B Cooper's discussion Buyers' Agent related to Buyers in the group Wells Fargo Short Sales
"That is right. This has been the policy on short sales for several years now. Not just Wells. "
Feb 19, 2014
John Treadwell replied to Teresa B Cooper's discussion Buyers' Agent related to Buyers in the group Wells Fargo Short Sales
"Take it , I am surprised they didn't cancel the whole deal. "
Feb 19, 2014
Teresa B Cooper added a discussion to the group Wells Fargo Short Sales
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Buyers' Agent related to Buyers

Wells Fargo / FHA mortgage - short sale in process.All parties have signed the FHA Pre-Foreclosure Sale Addendum, item (b) of which states:  Any Relationship or affiliation by family, marriage, or commercial enterprise to the Seller(s) or Buyer(s) by other parties involved in the sale of the Property has been disclosed to the Mortgagee.We disclosed that the Buyers' Agent was their adult son, a local Realtor(R).Now Wells Fargo says they "can not" pay real estate commission to him due to familial…See More
Feb 19, 2014
Teresa B Cooper joined Wendy Rulnick's group
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Wells Fargo Short Sales

Wells Fargo and ASC (America's Servicing Company)This group is for information, tips and solutions for Wells Fargo short sales.See More
Feb 19, 2014
Joseph Alfe replied to Teresa B Cooper's discussion Compensation for Negotiators
"Most lenders are stopping any negotiation fees, processing or doc prep fee, no matter who it's going to.  This is also part of the new GSE guidelines.  This pertains to the sellers side of HUD only.  As a third party negotiator,…"
Dec 5, 2012
Brett Goldsmith replied to Teresa B Cooper's discussion Compensation for Negotiators
"Teresa,       I understand that attorney fee's get approved. If it is simply a "negotiation fee" on the seller's side of the HUD I don't feel that it is a fee that lenders will approve very often. It…"
Dec 4, 2012
Teresa B Cooper replied to Teresa B Cooper's discussion Compensation for Negotiators
"Jessica - SC is an attorney state, rather than a title state.  We see BoA pay $1500 to $3500 for atty negotiating fees on every transaction.  In the last three years, I have yet to see a BoA short sale NOT pay negotiator fees to…"
Dec 4, 2012
Teresa B Cooper replied to Teresa B Cooper's discussion Compensation for Negotiators
"Carrie  -  SC is an attorney state, rather than a title state.  We see BoA pay $1500 to $3500 for atty negotiating fees on every transaction.  In the last three years, I have yet to see a BoA short sale NOT pay negotiator fees to…"
Dec 4, 2012
Teresa B Cooper replied to Teresa B Cooper's discussion Compensation for Negotiators
"Brian - SC is an attorney state, rather than a title state.  We see BoA pay $1500 to $3500 for atty negotiating fees on every transaction.  In the last three years, I have yet to see a BoA short sale NOT pay negotiator fees to…"
Dec 4, 2012
Teresa B Cooper replied to Teresa B Cooper's discussion Compensation for Negotiators
"Brett - SC is an attorney state, rather than a title state.  We see BoA pay $1500 to $3500 for atty negotiating fees on every transaction.  In the last three years, I have yet to see a BoA short sale NOT pay negotiator fees to…"
Dec 4, 2012
Jessica Griffith replied to Teresa B Cooper's discussion Compensation for Negotiators
"The firm I use takes 1% off the top of the commissions. However, there are attorney's that are now going after Realtors who try to negotiate their own short sales so having a legal backing is advisable.   The firm asks the listing agent to…"
Dec 4, 2012
Carrie Baty replied to Teresa B Cooper's discussion Compensation for Negotiators
"BofA doesn't pay any additional fees to a negotiator at all.  They remove necessary fees  at times.  We have the fees negotiated with a buyer ahead of time, or it comes out of the realtor commissions. I don't know what…"
Dec 4, 2012
Brett Goldsmith replied to Teresa B Cooper's discussion Compensation for Negotiators
"Teresa,      From our experience a 3rd party negotiators fee on the seller's side of the HUD is typically does not get approved. Usually our fee comes from the agent's commission or from a buyer only upon a successful…"
Dec 4, 2012
Teresa B Cooper posted a discussion

Compensation for Negotiators

I just spoke with a Bank of America representative regarding compensation for short sale negotiators. She told me that BoA will pay compensation to attorneys, title companies, and other non-realtor 3rd party negotiators for their services in negotiating a short sale.  Have any of you had any experience in this area?I currently am using a couple of local law firms, but have had several transactions fall through the cracks due to the law firms being completely overwhelmed - documents not uploaded…See More
Dec 4, 2012
Jeff Payne replied to Teresa B Cooper's discussion 3rd party negotiator or Realtor negotiator?
"Good point Joseph Alfe... my thought is that if you are not happy with the third party negotiator, you need to find a better group of friends :)  There are some really great 3rd party negotiators as there are some really great agents, problem…"
Sep 24, 2012

Profile Information

First Name
Teresa
Last Name
Cooper
Are you a...
Agent
State
South Carolina
City
North Charleston

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