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Updated about 7 years ago, 11/21/2017
Do you take a commission when your broker AND buyer??
I am a Broker in Texas and when I purchase residential or small multifamily (1-4) homes for myself, I write in the contract that I receive the 3% listed buyer's agent commission (in one form or another).
I'm about to make an offer on my first larger multifamily (20 unit apartment complex) and the non-disclosure I was asked to sign in order to view the financials has a bullet point that says I'm "acting as an Investor only and therefore am not entitled to commission."
Is this normal?? Do you usually try and take or ask for the broker commission when you are both the buyer/investor and the broker?
Second question: I'm used to making an offer on the TREC or TAR forms when offering for SFR or small multifamily, what do I use to make an offer for an apartment complex? Does the LOI act as the offer or is that just the general intent letter with offer price and terms and then the sellers realtor will provide the contract?
Thanks for your help!