Refusal To Pay Commission

[Sam Alpha]

I have found a decent deal which I am deciding to flip.  It is a short sale (price approved) and when the bank realized that the buyer (me) was also the agent, they turned around and said that they would not be paying me a commission as it is "self dealing".

I find it low of them to do this, but I guess in this business you see all faces.

My question is that of the legality of not paying out the commission.  The contract states that both agents are entitled to 3%.  Regardless, of whether I was getting this property for myself or acting as an agent, my expenses, time and work to getting it to close would be the same.  If that is the case, is an agent not entitled to a commission?

I look forward to seeing the different points of view (as well as solutions or "go-arounds)

Ty,

Sam

[Jim Keller]

@Sam Alpha

I get a kick out of people saying they agree with the banks...... I have never worked with one bank that ever gave me a far shake they will never get one from me.

I would turn in a new HUD with you getting commission and if they don't sign wait a week and send it in again. Most banks shuffle there files around so much you may get lucky.

Poor banks....... get real!!!!