Posted by amg on April 09, 1999 at 21:13:55:
I agree with Rob’s post about the Broker needing to know the buyer a little better. The only experience I have had with this is with a friend of mine from High School. She is now an Agent and readily agreed to loan me her commission (infact she suggested it to me - in an effort to do something together). I have not done this yet as I have not needed to. But it is a nice option to count on in the future! Get to know a few Brokers and Agents!!!
amg
Question? on Brokers taking there fees in the form of a note. - Posted by Eric
Posted by Eric on April 09, 1999 at 10:26:56:
Has anyone ever had a broker take his fees in the form of a note or mortgage against a property to help with the purchase. I would like to know how many have actually had this work ?
thanks
Eric
Re: Question? on Brokers taking there fees in the form of a note. - Posted by Rob FL
Posted by Rob FL on April 09, 1999 at 19:55:17:
Most likely the broker would need to know you somewhat well in order to trust you to make the payments. Also, if the broker had to split the commission with other agents it probably wouldn’t work because not all of them would take a note.
Personally, being a broker myself, I would consider taking a note on some deals if it made economic sense and I felt the payor was creditworthy.