Comments on: New Policy Prohibits Lenders from Reducing Commissions Below 6% on Short Sales. http://360digest.com/2009/03/04/fannie-mae-announces-policy-prohibiting-lenders-from-reducing-commissions-below-6-on-short-sales/ Seattle Real Estate Blog for those interested in Seattle real estate, popular culture, tech, news and opinion. Sun, 29 Apr 2012 14:47:03 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Chandler Real Estate http://360digest.com/2009/03/04/fannie-mae-announces-policy-prohibiting-lenders-from-reducing-commissions-below-6-on-short-sales/comment-page-1/#comment-41001 Chandler Real Estate Fri, 13 Mar 2009 03:22:30 +0000 http://360digest.com/?p=1242#comment-41001 I just had this very issue come up with a major bank that said 'take it or leave it' and they won't do the deal without a reduced commission. I spent nearly a week going back and forth. In the end, I needed to move aside and not be in the way of what was important - helping my client. However, I followed guidance given by my broker and drafted a letter acknowledging the reduced commission as a condition of sale and indicated below my signature - "Signed under duress." Apparently, Realtors here are taking this up with the local Realtor board and getting the commissions paid to them after close. I plan to follow through on this. David Lorti I just had this very issue come up with a major bank that said ‘take it or leave it’ and they won’t do the deal without a reduced commission. I spent nearly a week going back and forth. In the end, I needed to move aside and not be in the way of what was important – helping my client. However, I followed guidance given by my broker and drafted a letter acknowledging the reduced commission as a condition of sale and indicated below my signature – “Signed under duress.”

Apparently, Realtors here are taking this up with the local Realtor board and getting the commissions paid to them after close.

I plan to follow through on this.

David Lorti

]]> By: Terry http://360digest.com/2009/03/04/fannie-mae-announces-policy-prohibiting-lenders-from-reducing-commissions-below-6-on-short-sales/comment-page-1/#comment-40900 Terry Thu, 05 Mar 2009 18:36:54 +0000 http://360digest.com/?p=1242#comment-40900 We don't need to do any price-fixing with commissions. The government will do it for us! We don’t need to do any price-fixing with commissions. The government will do it for us!

]]> By: Posts about Short Sales as of March 5, 2009 http://360digest.com/2009/03/04/fannie-mae-announces-policy-prohibiting-lenders-from-reducing-commissions-below-6-on-short-sales/comment-page-1/#comment-40897 Posts about Short Sales as of March 5, 2009 Thu, 05 Mar 2009 12:07:43 +0000 http://360digest.com/?p=1242#comment-40897 [...] navigating the short sale. In a word : third-party negotiators (REALTORS®/agents) make it happen Fannie Mae Announces Policy Prohibiting Lenders from Reducing Commissions Below 6% on Short Sales. - 360digest.com 03/04/2009 Agents who have participated in a short sale transaction knows there may [...] [...] navigating the short sale. In a word : third-party negotiators (REALTORS®/agents) make it happen Fannie Mae Announces Policy Prohibiting Lenders from Reducing Commissions Below 6% on Short Sales. – 360digest.com 03/04/2009 Agents who have participated in a short sale transaction knows there may [...]

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