Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on TwitterFollow AgentsOnline on Facebook

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Good Idea!
Realtor Promotion Service

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 28495244
No new orders today 13139929
Stupid MLS comments. 3346919
What do you know about Froy Candelario, top agent in USA 1229549
Stupid QC comments and BPO requirements. 1102901
New HUD Listing Brokers---Any Update? 1056803
Is there religious content in Buffini class? 845637
Let's talk about our cars 698205
Name that Flick. Great movie Lines. 623195
Most common items found at an REO 618637
Pay it Forward - BPO/REO Tips & Tricks I & II 614361
REOTRANS 463043
EML 459235
Main Street 443926
asset val seminar in colorado 422431
assist 2 sell or 1 percent realty? 353509
HOMONYMS - There, Their, and They're 328734
Evalonline 300209
Land America 285053
Mainstreet 261860
Matched Content
Topic Options
Rate This Topic
#459729 - 11/09/17 03:23 PM Buyer credit to seller
koz Offline
Junior Member

Registered: 02/19/17
Posts: 6
Loc: pa
I have a listing whos closing got delayed 10 days due to change in type of loan.

He won't sign the addendum with new date/loan type unless the buyer credits him 10 days of his mortgage.
I know.. but he won't take no for an answer.

I have never had to do credit that way before except a few pre settlement per diems. Can I just 'buyer credits seller 500'? I don't want it to affect the loan.
(not that they will agree anyway, if i was the other agent id give us a big NO)

Just wondering how you would word it if you had to try.

Top
Advertisements
#459736 - 11/10/17 05:07 AM Re: Buyer credit to seller [Re: koz]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7837
Loc: Vermont's North-East Kingdom
Who's responsible for trying to alter the mortgage application at this late date . . . . that's who should pay.

Sometimes. just to "grease the skids" the Broker will provide the lubricant to keep the deal alive.

When it comes down to the wire, I would pay it out of my Commission !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

Top
#459737 - 11/10/17 06:57 AM Re: Buyer credit to seller [Re: koz]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2266
Loc: Outer Banks
I can see where the seller is coming from but if he kills the deal then he has to make the mortgage payment for the entire month and the next month. Give him a choice, 10 days of mortgage or 60 days of mortgage minimum
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

Top
#459751 - 11/11/17 07:44 PM Re: Buyer credit to seller [Re: Bigtoe]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 309
Loc: New Hampshire
Originally Posted By: Bigtoe
I can see where the seller is coming from but if he kills the deal then he has to make the mortgage payment for the entire month and the next month. Give him a choice, 10 days of mortgage or 60 days of mortgage minimum

This is the best part of the business, in my opinion. All the pain of prospecting and lead follow-up to get to the negotiating of the sale. And sometimes those negotiations go all the way to the closing table.

There is a lesson I learned early on that served me well in negotiations: the fear of loss is a greater motivator than the benefit of gain. The OP will shortly find out what is most important to the client: pride or money.

I hope the OP lets us know how it turned out.

Top
#459827 - 11/19/17 07:02 AM Re: Buyer credit to seller [Re: koz]
jsteinhomes Offline
Member

Registered: 01/18/11
Posts: 282
Loc: Montgomery County, PA
It is amazing to me how often the principals in a real estate transaction let their Pride get in the way of making a logical decision.

Just a few weeks ago, I had a seller who failed to mention to me that the U&O permit they received on their home was Conditional on four very minor items. Because the inspector told them it was no big deal and there was a year to remedy, they figured that it would also be no big deal to just stick the list and responsibility on the buyers.

The buyers, obviously, had a different take on the situation, and asked for $200 at the table to cover the cost of these four items. Seller absolutely refused at first. "I am not discounting my house any more, blah blah blah..."

I offered her a choice. Accept their (very reasonable) terms and walk away with a check for $33,000 instead of $33,200 that they can use as down payment on their new home (which was under contract, of course) or they could walk away, put their home back on the market and keep paying the mortgage on their current home while losing the deposit on their new home.
_________________________
Joshua Stein, ABR, e-Pro
Coldwell Banker Preferred - Conshohocken

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
GoGetter84, AmericanProperty, SDagent, LocalRealEstate, eis
30134 Registered Users
Who's Online
0 registered (), 34 Guests and 3 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Team Sztanyo 33
Trouble 17
kirastan 16
Z06Fanatic 16
estatereal 12
Mr. Clean 11
Bigtoe 11
LuG 11
RonnieEmz 10
VABroker 9
Vermont 9
cathyCZ18 8
newagent2028 5
Roadfrontage 4
Big Kahuna 4
Featured Member
Registered: 05/21/18
Posts: 1
Facebook

How To Advertise Here


This site presented by RNC Internet Services