Posted on: 19th Dec, 2010 11:22 am
Can anyone tell me if this is real? I am trying to purchase a $525,000 home in Naples Florida and the mortgage broker is telling me that if I use one of his realtors that they will pay $10,000 of my closing costs.
Is this even legal?
Is this even legal?
I am a realtor and I would think it is 100% illegal! You, the realtor and mortgage broker will be sharing a cell in prison!
They can give a 6% seller's concession but, THAT IS IT!
Who will pay the $10,000?
The mortgage company or the Realtor or the seller?
The mortgage company or the Realtor or the seller?
The realtor is giving me $10,000 out of the $16,000 the property pays in comission.
As long as all is disclosed on the purchase contract, that is fine.
Realtors contributing toward closng cost is legal in most, not all, states.
I do not know Florida laws, but, I think ok in Florida.
Realtors contributing toward closng cost is legal in most, not all, states.
I do not know Florida laws, but, I think ok in Florida.