I'm in a situation where my house is currently in escrow. The selling price is less than what I owe on the loan and I don't have the money to pay what I owe. I've allowed the buyer to live in the house in order to allow them to agree to extend the close date while I refinance another property to get the funds. I've already asked for 2 extensions on the close date and the buyers are now threatening to pull out of the deal. The amount that I owe in order to close escrow is the exact amount of the realtor fees. Is there such a form where I could make an agreement with the realtors to pay the fees AFTER escrow closes? That way, the deal can be sealed with the buyers and there will be no more uncertainty as to whether or not the deal will fall through. Anyone have any knowledge on this?
2006-09-15 05:36:15 · 4 answers · asked by Mon I 2 in Business & Finance ➔ Renting & Real Estate
ooooh. When talking about this kind of money, do you really want the advice of unknowning and possible stupid people's answers. Talk to a lawyer, or go to the library and get some help looking this up.
2006-09-15 05:46:39 · answer #1 · answered by Practical Suzy 3 · 0⤊ 0⤋
We do them all the time. All you need is the agreement with the broker to take their commission outside of closing and under what terms and a promissory note.
Buena Suerte
2006-09-15 05:44:38 · answer #2 · answered by newmexicorealestateforms 6 · 1⤊ 0⤋
Typically commissions are paid out of proceeds at time of closing. You can reach an agmt with agent to pay their fees outside closing to allow for you to close the deal........
2006-09-15 07:29:59 · answer #3 · answered by boston857 5 · 0⤊ 0⤋
If the broker will agree, sure.
2006-09-15 11:06:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋