Thread Starter: Title topics
Title: Re: Referral fee confusion
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What you would do on the HUD is under 700 show total amount as well as % to realtor. Under that line should be a split section that is the proper place to put the POC for the corp. This should ( depending on your software ) show the total $ on the HUD and also the corporation split or % with the realtor.
If it will not do it there then go to 701 and list the corps POC.
The seller is receiving a ( Referral Fee ) from the listing Agent ? I will be honest with you ,I don't like the way that sounds at all. We have REO companies selling for banks that pay a discounted agents fee. But never a referral fee back.
I would make contact with the listing agent to make sure there was a contract between the two for the split.
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