How can I pay realtor's fee ; no cash. Suggestions? - Posted by Anne

Posted by Anne on August 20, 2000 at 16:46:40:

FANTASTIC!!!

Thank you VERY much for sharing this with me. I am really grateful for all the people who are responding to all my questions. It’s obvious I am a beginner, and I appreciate people taking time to offer information.

Thank you again, Bryan

Anne

How can I pay realtor’s fee ; no cash. Suggestions? - Posted by Anne

Posted by Anne on August 17, 2000 at 12:27:29:

I want to purchase a house with little or no money down. The house is listed with a realtor.

If I can assume the first mortgage and get the Seller to carry a second mortgage for the balance on a note that balloons in two years, how does the Realtor get paid?

Perhaps he could be convinced to carry his fee on a note with interest that balloons in two years as well? If so, does the Seller pay that and I pay the Seller the monthly interest?

This is in Tulsa; anyone know whether realtors there are willing to do this? Or other creative ideas?

What options are there for this kind of deal.

House priced about $100,000

I did EXACTLY that… - Posted by SusanL.–FL

Posted by SusanL.–FL on August 17, 2000 at 14:47:01:

I also assumed the first mortgage, seller held a small second, and I paid the realtor’s commission in ten monthly payments (at zero interest). Everyone was happy.

Ask…you might be pleasantly surprised. Good luck.

Re: How can I pay realtor’s fee ; no cash. Suggestions? - Posted by Bryan Ellis

Posted by Bryan Ellis on August 17, 2000 at 14:13:14:

If the realtor wants to sell the property badly enough, they’ll take a note with NO interest. This is exactly what I got an agent to agree to recently.

Re: I did EXACTLY that… - Posted by Anne

Posted by Anne on August 20, 2000 at 16:44:36:

Thank you, Susan! It is great to hear from someone who has done this.

I certainly will give it a try. Thanks for taking the time to share your experience with me.

Anne