Some common agent questions regarding how to correctly note commissions as part of short sale listings. Most questions are regarding the BAC. The BAC must be an exact percentage or dollar amount.
For example, acceptable language would read something like, "This is a short sale. If Seller�s lender, as a condition of approving the sale, requires a reduction in the total commission agreed to by Seller in the Listing Agreement, any such reduction shall be divided ___________ (E.g. 50/50, or 60/40 etc.) between the Seller�s and Buyer�s Broker."
Friday, October 1, 2010
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