real estate slaes commission question - Posted by eb


#1

Posted by JPiper on January 21, 1999 at 17:53:55:

The way I have handled it is to make my offer to the seller containing a note in the amount of the real estate commission in the contract as a portion of the total price. In other words, the seller will receive a note secured by a deed of trust from me as a part of his total price.

At closing the seller then assigns this note to the real estate agent in payment of the commission.

If the note was not a part of the original contract, then an addendum would be created changing the terms of the original contract as above described.

From the seller’s perspective, it might also be good to have an agreement with the real estate agent that the note was payment of the commission.

JPiper


#2

real estate slaes commission question - Posted by eb

Posted by eb on January 21, 1999 at 16:30:46:

If the real estate agent will be taking his commision in the form of a note, would the contract still state that the seller agrees to pay all real estate commissions due on this transaction. Or would this be crossed off the contract and the terms of commission be included in an addendum. How would this take pace at closing???