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Updated almost 9 years ago on . Most recent reply
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Buyer and seller commissions?
We want to purchase a HUD house, which we are trying to do through the listing agent. The problem is, the buyer and seller's commissions are 6%, a total of 12,000 dollars, which has greatly increased the price of the house. We are very interested in the house, but this amount is making it unaffordable. The agent said that these fees are non- negotiable. Is there anyway to make this lower, perhaps with another agent? We really would like the house. Any help would be great! Thank you.
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Keith this is absolutely positively NOT the case and I could provide several hundred settlement statements to prove it. As a Broker, I buy several HUD homes each month and I always put $0 for the selling agent commission as the selling agent can input a $ value from zero up to 3%(or the $1250 minimum commission in some cases) . The listing agent commission field cannot be modified or changed in any way. HUD is only concerned with the Net bid amount to HUD. There is actually no way to put in an "erroneous" bid dollar wise as the system would not allow the submission