Posted by Jim IL on February 17, 2001 at 16:32:28:
Paul,
I’d have the seller talk to the employer to find out if the L/O would qualify in their minds for the commission to be paid by them?
If not, then why not write it up as a Land Contract?
This would be a “Sale”, and then commission could be paid.
Just my $.02,
Jim IL
Lease/Purchase Question: ( Agents Commission) - Posted by Paul-WA
Posted by Paul-WA on February 17, 2001 at 15:44:22:
Seller wants agent to receive commission on transaction, as sellers employer is paying it as relocation concession, so it’s not coming out of his pocket anyway.
Should I write this deal as typical L/P, and is it likely his employer might decline this concept as opposed to a “typical sale” ? I’m trying to think ahead and be prepared, as questions arise.
Any input and suggestions appreciated.
Thank you.
Paul
Re: Lease/Purchase Question: ( Agents Commission) - Posted by Mike C
Posted by Mike C on February 19, 2001 at 15:16:55:
I recently purchased my personal residence in a similar way but I split the commission with the seller. If you can’t buy now, the seller should still be able to negotiate the commission with his employer to be paid when option is exercised. Just ask. Even if you don’t split the commission with the seller in cash, you should be able to yield a better purchase price because of the employer’s payment to the seller.