Posted by Bill Jacobsen on July 23, 2007 at 07:39:29:
I have no idea whether the mortgage company would have a problem with it. Of course, you can charge any amount of commission you wish.
I would not pay more for the property just to lower the amount I had in it by a little bit. Being successful in real estate is not about seeing how little you can put into a property
Just lower your commission and lower the offer on the property so the owner nets the same amount. You will reduce the amount that your office receives. This is good because you lose 80% of that amount.
10% commission allowed??? - Posted by brandoncbsre
Posted by brandoncbsre on July 21, 2007 at 11:49:45:
I am a real estate sales agent and part-owner (20%) of the office I work out of. I have recently bought and renovated my first property. It is a downtown commercial building that I lease to our real estate office. I am currently looking for my next investment. I am thinking maybe a duplex/triplex/fourplex so that I could get decent 90% LTV financing. If I could get the owner to agree to pay me a 10% commission would the mortgage company have a problem with it. I would not be using it as my downpayment. My thinking is after I put 10% down and get the seller to pay closing costs then I would only have 4% in the deal after I get my commisson (we split 60/40