Seller Agent Commission Kickback

[SD Realtor]

Scarlett alot of those things will crater the deal if they are in writing and are delivered to the lender (the first) regarding the short sale. At the beginning of the process if the first knows you are gonna hold back cash for the second they will not authorize the deal. Having the experience of knowing when to put that into play and when not to is important. Similarly doing things like paying out of pocket expenses for the seller is also something that could be considered in a very negative light by the short selling lender. So can you put them in writing as an addendum? Well yes you can. You can also not deliver them to the short sale lender but again, you walk a fine line at that point. Your agent should also know what to ask and what not to ask in order to get the deal done.

Also there is a familiar theme here which is, many a buyer is frustrated with what is out there and how difficult it is to get something of quality. However when they do have that opportunity but are forced to do things like the previous poster wrote about, many are reticent to do that. So at this point you are frustrated and it is understandable. However it is also hard to predict how you or any buyer would react to undefined parameters and/or paying out of pockets for a short selling homeowner when it is crunch time. Obviously it would depend on how much you wanted the home.

[Scarlett]

Thanks SD R!
I haven’t thought about what the first lender will think about it. This is clearer now. Of course, I don’t like the whole process of short sale and I’d much rather that such thing did not exist (BTW, when did the short-sales appear? were they always present?).

The problem that happens is that you don’t have enough cash leftover to be willing to part with it for those unexpected expenses. If I am planning to put 15-20% down, but so that I have 3-6 months of PITI cash left over, I would be indeed very reluctant to part with that reserve – let’s say 20-30K? – to satisfy these unexpected conditions. And I won’t do it. I’d be wasting my and my agent’s time – if I’d have read these in the begining I’d say – let’s move on, we can’t do this. A few K I could understand. (for a 500-600K house I am talking). And again, another sore point, the sales price will NOT reflect accurate the reality of how much the property sold for…

[Scarlett]

Thanks SD R!
I haven’t thought about what the first lender will think about it. This is clearer now. Of course, I don’t like the whole process of short sale and I’d much rather that such thing did not exist (BTW, when did the short-sales appear? were they always present?).

The problem that happens is that you don’t have enough cash leftover to be willing to part with it for those unexpected expenses. If I am planning to put 15-20% down, but so that I have 3-6 months of PITI cash left over, I would be indeed very reluctant to part with that reserve – let’s say 20-30K? – to satisfy these unexpected conditions. And I won’t do it. I’d be wasting my and my agent’s time – if I’d have read these in the begining I’d say – let’s move on, we can’t do this. A few K I could understand. (for a 500-600K house I am talking). And again, another sore point, the sales price will NOT reflect accurate the reality of how much the property sold for…

[Scarlett]

Thanks SD R!
I haven’t thought about what the first lender will think about it. This is clearer now. Of course, I don’t like the whole process of short sale and I’d much rather that such thing did not exist (BTW, when did the short-sales appear? were they always present?).

The problem that happens is that you don’t have enough cash leftover to be willing to part with it for those unexpected expenses. If I am planning to put 15-20% down, but so that I have 3-6 months of PITI cash left over, I would be indeed very reluctant to part with that reserve – let’s say 20-30K? – to satisfy these unexpected conditions. And I won’t do it. I’d be wasting my and my agent’s time – if I’d have read these in the begining I’d say – let’s move on, we can’t do this. A few K I could understand. (for a 500-600K house I am talking). And again, another sore point, the sales price will NOT reflect accurate the reality of how much the property sold for…

[Scarlett]

Thanks SD R!
I haven’t thought about what the first lender will think about it. This is clearer now. Of course, I don’t like the whole process of short sale and I’d much rather that such thing did not exist (BTW, when did the short-sales appear? were they always present?).

The problem that happens is that you don’t have enough cash leftover to be willing to part with it for those unexpected expenses. If I am planning to put 15-20% down, but so that I have 3-6 months of PITI cash left over, I would be indeed very reluctant to part with that reserve – let’s say 20-30K? – to satisfy these unexpected conditions. And I won’t do it. I’d be wasting my and my agent’s time – if I’d have read these in the begining I’d say – let’s move on, we can’t do this. A few K I could understand. (for a 500-600K house I am talking). And again, another sore point, the sales price will NOT reflect accurate the reality of how much the property sold for…

[Scarlett]

Thanks SD R!
I haven’t thought about what the first lender will think about it. This is clearer now. Of course, I don’t like the whole process of short sale and I’d much rather that such thing did not exist (BTW, when did the short-sales appear? were they always present?).

The problem that happens is that you don’t have enough cash leftover to be willing to part with it for those unexpected expenses. If I am planning to put 15-20% down, but so that I have 3-6 months of PITI cash left over, I would be indeed very reluctant to part with that reserve – let’s say 20-30K? – to satisfy these unexpected conditions. And I won’t do it. I’d be wasting my and my agent’s time – if I’d have read these in the begining I’d say – let’s move on, we can’t do this. A few K I could understand. (for a 500-600K house I am talking). And again, another sore point, the sales price will NOT reflect accurate the reality of how much the property sold for…

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

It had to be secret because the Lender wanted the seller to come in with some money for them to sign off on the deal. If the seller was willing to come in with the money, it would not have been a secret. The seller was unwilling to pay and yet the deal still went through. The check into escrow had to come from the seller. Escrow did not know where the funds came from. I’m sure the eventual buyer paid this amount to make the deal happen. The bank would not budge and the seller did not want to put anything into the deal. The seller had alrady lost a couple hundred grand downpayment. The seller made all their payments, paid their taxes and HOA. Nothing was delinquent. It was the bank that played hard ball. This happens if you like it or not. I did not make the rules. This was one of the reasons we backed out of the deal. But it was not the main reason. The house just wasn’t the one for us.
We were in another deal where the seller was going to take all the appliances. So we low balled the offer and we agreed to purchase all the appliances for above new retail price. The BPO came in too high and we walked. The listing came back on line with the BPO price and sat. They had to lower the listing again before someone came in. Still not sold and it’s been 8 months.
This is why I suggest that you talk to the agent to get the advantage. If you call it cheating then it’s cheating. I make 35K a year working 40hrs a week and I’m not going to throw away my money because I want to play fair. The system is cheating us.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

[recordsclerk]

The rental agreement was in the confidential remarks. The seller was willing to pay PITI for 30 days rent. We just gave them the 30 days free. The secret pay out was not disclosed. It was in an adendom that was not shown to escrow or lenders. These are the things that make short sales difficult and you are proving your own point by not wanting to play along with the unwritten rules. On that deal we were putting down 40% and had plenty of reserves to pay off any request. We have lost on so many bids, I have lost count. Short sales are the best deals out there for the patient buyer that is flexible.

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