L/O On A Listed Property
Property is listed, but I met with seller and he is interested in both a sub2 deal and a l/o
Which one would you do, and how would you handle payment of commission to RE agent.
Property is listed, but I met with seller and he is interested in both a sub2 deal and a l/o
Which one would you do, and how would you handle payment of commission to RE agent.
Ideally the agent will want the comission up front. You down payment or option should cover the obligation.
However, if you have a defined exit strategy, agents and brokers will work with you. My latest rehab I defferred comission until the house was sold again. I decided to list the house to help it sell faster and paid for the comission by signing a 1-year property management contract.
Brokers are very willing to work with you.
either way seller is paying listing agent or if they are broke-you will...
on sub 2 it would most likely be a case of payment due now as deed will transfer
on L/O listing agent doesnt get paid till it closes and funds in most cases, which would be the duration of the agreement..
3 yr l/o..they get paid in 3 yrs or when option is exercised...