if i get a real estate agent 2 assist me in finding & financing a reo does the lender of the reo pay the commision? what if i found the property and negotied on my own but i just want them to help me through the additional paperwork. how does this work?
The lender of the REO pays the commission. The real estate agent is a FREE service to you and will make sure your closing is successful.
Commission will be split between the listing agent and the buyers agent. Each will get 3%. Most buyers agents don’t get too excited about that, but will be excited if you tell them you plan to use them at the back end of the deal when the house is fixed up. Then they get 6%.