Seller Agent Commission Kickback

[recordsclerk]

SDR,

The secret is where the money comes from. The money is going to the lender and will be on the Hud. I agree with that. My point was that I had to make a contribution under the sellers name into escrow via a blank check or a check with the sellers name on it. The check could not have my name on it. The money was not going to the seller to keep. There was only 1 lender because the seller put down 20%. We were the second buyers for this deal and that’s why we knew what the BPO had come in at. While under contract with the first buyer they tried to counter out the contribution to the bank from seller. I think that’s why the deal fell out.

[SD Realtor]

Recordsclerk that indeed is fraud. I have never had to that with any clients. I would never advise anybody to go into a deal under such circumstances. I am not saying that what you are talking about did not or does not happen, however that is a line that I would not cross as it would jeopardize my livelihood. As you noted, eventually the home did sell, whether or not the other buyers had to do the same thing as you were saying is an interesting question.

I would also add that short sale lender negotiators are scrutinizing the packages more now including bank deposits. A short sale I am in has requested an explanation for a large deposit just made in my sellers account and she had to send the image of the deposited check.

[SD Realtor]

Recordsclerk that indeed is fraud. I have never had to that with any clients. I would never advise anybody to go into a deal under such circumstances. I am not saying that what you are talking about did not or does not happen, however that is a line that I would not cross as it would jeopardize my livelihood. As you noted, eventually the home did sell, whether or not the other buyers had to do the same thing as you were saying is an interesting question.

I would also add that short sale lender negotiators are scrutinizing the packages more now including bank deposits. A short sale I am in has requested an explanation for a large deposit just made in my sellers account and she had to send the image of the deposited check.

[SD Realtor]

Recordsclerk that indeed is fraud. I have never had to that with any clients. I would never advise anybody to go into a deal under such circumstances. I am not saying that what you are talking about did not or does not happen, however that is a line that I would not cross as it would jeopardize my livelihood. As you noted, eventually the home did sell, whether or not the other buyers had to do the same thing as you were saying is an interesting question.

I would also add that short sale lender negotiators are scrutinizing the packages more now including bank deposits. A short sale I am in has requested an explanation for a large deposit just made in my sellers account and she had to send the image of the deposited check.

[SD Realtor]

Recordsclerk that indeed is fraud. I have never had to that with any clients. I would never advise anybody to go into a deal under such circumstances. I am not saying that what you are talking about did not or does not happen, however that is a line that I would not cross as it would jeopardize my livelihood. As you noted, eventually the home did sell, whether or not the other buyers had to do the same thing as you were saying is an interesting question.

I would also add that short sale lender negotiators are scrutinizing the packages more now including bank deposits. A short sale I am in has requested an explanation for a large deposit just made in my sellers account and she had to send the image of the deposited check.

[SD Realtor]

Recordsclerk that indeed is fraud. I have never had to that with any clients. I would never advise anybody to go into a deal under such circumstances. I am not saying that what you are talking about did not or does not happen, however that is a line that I would not cross as it would jeopardize my livelihood. As you noted, eventually the home did sell, whether or not the other buyers had to do the same thing as you were saying is an interesting question.

I would also add that short sale lender negotiators are scrutinizing the packages more now including bank deposits. A short sale I am in has requested an explanation for a large deposit just made in my sellers account and she had to send the image of the deposited check.

[sdrealtor]

Agree that is indeed fraud. The crazy thing is the lenders care so much about where the more comes from often times more than how much they get. It is as if they are being punative rather than busy savy. I laugh when they dont want the money to come from the buyer because the buyer already is bringing most of the money and they have no issue with that. They like to see it come from the selelrs and also like to see if come from agents commissions but not the buyers. Crazy to me….

FYI, the amounts the 2nd lenders want on a seller contribution rarely go above several thousand dollars

[sdrealtor]

Agree that is indeed fraud. The crazy thing is the lenders care so much about where the more comes from often times more than how much they get. It is as if they are being punative rather than busy savy. I laugh when they dont want the money to come from the buyer because the buyer already is bringing most of the money and they have no issue with that. They like to see it come from the selelrs and also like to see if come from agents commissions but not the buyers. Crazy to me….

FYI, the amounts the 2nd lenders want on a seller contribution rarely go above several thousand dollars

[sdrealtor]

Agree that is indeed fraud. The crazy thing is the lenders care so much about where the more comes from often times more than how much they get. It is as if they are being punative rather than busy savy. I laugh when they dont want the money to come from the buyer because the buyer already is bringing most of the money and they have no issue with that. They like to see it come from the selelrs and also like to see if come from agents commissions but not the buyers. Crazy to me….

FYI, the amounts the 2nd lenders want on a seller contribution rarely go above several thousand dollars

[sdrealtor]

Agree that is indeed fraud. The crazy thing is the lenders care so much about where the more comes from often times more than how much they get. It is as if they are being punative rather than busy savy. I laugh when they dont want the money to come from the buyer because the buyer already is bringing most of the money and they have no issue with that. They like to see it come from the selelrs and also like to see if come from agents commissions but not the buyers. Crazy to me….

FYI, the amounts the 2nd lenders want on a seller contribution rarely go above several thousand dollars

[sdrealtor]

Agree that is indeed fraud. The crazy thing is the lenders care so much about where the more comes from often times more than how much they get. It is as if they are being punative rather than busy savy. I laugh when they dont want the money to come from the buyer because the buyer already is bringing most of the money and they have no issue with that. They like to see it come from the selelrs and also like to see if come from agents commissions but not the buyers. Crazy to me….

FYI, the amounts the 2nd lenders want on a seller contribution rarely go above several thousand dollars

[JBurkett19]

I agree with the previous post. All of this should be put in writing straight away. There shouldn’t need to be any private discussions about what party wants what. There’s a reason why listing agents don’t spell everything out in writing. It’s usually because there’s something shady going on. If anyone thinks that the real estate business isn’t full of crooked agents, then they’d be dead wrong. Whenever there are commissions to be had, people cheat, lie and steal.

[JBurkett19]

I agree with the previous post. All of this should be put in writing straight away. There shouldn’t need to be any private discussions about what party wants what. There’s a reason why listing agents don’t spell everything out in writing. It’s usually because there’s something shady going on. If anyone thinks that the real estate business isn’t full of crooked agents, then they’d be dead wrong. Whenever there are commissions to be had, people cheat, lie and steal.

[JBurkett19]

I agree with the previous post. All of this should be put in writing straight away. There shouldn’t need to be any private discussions about what party wants what. There’s a reason why listing agents don’t spell everything out in writing. It’s usually because there’s something shady going on. If anyone thinks that the real estate business isn’t full of crooked agents, then they’d be dead wrong. Whenever there are commissions to be had, people cheat, lie and steal.

[JBurkett19]

I agree with the previous post. All of this should be put in writing straight away. There shouldn’t need to be any private discussions about what party wants what. There’s a reason why listing agents don’t spell everything out in writing. It’s usually because there’s something shady going on. If anyone thinks that the real estate business isn’t full of crooked agents, then they’d be dead wrong. Whenever there are commissions to be had, people cheat, lie and steal.

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