Posted by ron on October 08, 2005 at 11:45:04:
statutes
Getting paid on hud or off etc - Posted by ron
Posted by ron on October 08, 2005 at 11:41:52:
The dept of commerce has told us that I can get paid off the hud from a builder/seller as a licensed agent/broker acting in the facilitator capacity, does anyone have anything in writing that states that I can’t?
Also I have in writing, statues, that read that, I, as a licensed person, can pay “my commission” to a party of the transaction. This came as a state law, I don’t know if this is a federal law, anyone know?
My question is how to lenders play into all of this
I already understand that sellers can’t pay buyers after closing.
But if state law reads that a facilitator can pay his/her commission to a party of the transaction, let’s say the buyer, what rights does a lender have at this point, is that even part of the transaction, a lender shouldnt’ beable to supersede state law, or tell me later that as the facilitator I wasn’t allowed to pay the buyer.
Does anyone have any answers to the above for these questions in some statues, in writing somewhere?