Hi! I was looking at a neighboring property a few days ago and I had the opportunity to meet the seller. After having introduce the concept of seller financing, the owner seemed more then willing to use this method of finance but I was told that his house was also listed through an agent - My question is how exactly does the agent get payed when using this method? Could anything give me an example? Also on a slightly diff topic - are banks willing to carry paper on reo 2? how common is that? Thanks
Banks wont hold the paper on a seller finance and the agent will most likely take the commission out of your downpayment. herbster
Depends on how the listing contract is structured. You can structure a listing contract so that the agent does NOT get paid if the seller finds the buyer, so find out what the case is here. otherwise my guess would be that the seller is on the hook to pay the agent/broker out of pocket.