Seller Financing costs

[Adam Schellhammer]

Hi All,

I have a question regarding seller financing costs.  I am attempting to utilize seller financing for the first time to pick up a duplex.  The seller is open to the idea but I am unsure of how the process plays out as far as paying the realtors involved.  My realtor found the property but given that all of the terms are negotiated through the seller, what will my obligations be to my realtor.  I am not trying to get out of paying anyone, my realtor is worth his weight in gold, but I would just like to be more clear on the ins and outs before moving forward with the process.

Thank you in advance to the amazing BiggerPockets community for your assistance!

Adam

[Gino Barbaro]

@Adam Schellhammer@Jake Stenziano

Hi Adam

The seller usually pays the commission, but anything is negotiable.  In my first large transaction, the listing broker was also our broker.  We were able to negotiate a cut in his commission and he also held a note for part of the commission that we split with the seller. All parties involved wanted to get the deal done so we all gave a little bit. We refinanced the property a year later and paid off the broker's note.  Word of caution, some brokers are not creative and we had a great relationship and track record with this broker

Good Luck

Gino