BiggerPockets

I'm not understanding your post.

You are getting paid by the end buyer for negotiating and you want to get paid by the bank as well?

Freddie Mac will not pay negotiations, its common.

Let the agent get 6% and collect 3% from the agent at closing from the title company by having them paying you a a short sale processing fee. You can accomplish this by submitting a new HUD 1 to the negotiator (lender) removing your 3% and adding that 3% to the commissions. Then, have the agent sign a fee agreement between you and him where it is deducted from the 6% at closing.

It's like printing money!

Originally posted by Richard Graham

Scott would I have to pull the offer or just resubmit a new HUD.

In my opinion, since the deal submitted is already 100% BPO, I believe you have a good shot. Agents are allowed to make 6%, however, since there is only one agent you should expect a counter-offer to reduce the commisions.

Originally posted by Richard Graham

My buyer has been approved for USDA, who the Broker has told me they will be out of money at the end of April so time line is tight.

Since your buyer is paying your fee and is using USDA loan, I would make sure that they will allow that buyer pay your fee. In know FHA/VA will not allow for it.

Originally posted by Richard Graham

I hate to resubmit and it take a few weeks for another approval. I think I will just take my $2500 from the buyer and chalk it up to education. I do like your strategy for getting paid in the transaction.

I would resubmit especially if you are not sure about USDA paying your fee.

Originally posted by Richard Graham

Had I known Freddie would not pay negotiation fee I would have taken a different rout. They are making out I brought them a buyer at 100% BPO with a 3% Realtor fee, and will not compensate me. Negotiator says they will just foreclose.

You will find your fee is rarely paid for by the investors even like it seems it is a good deal.

This is an update to this post. We finally got this one closed this week. Interesting part was that my end buyers were actually the tenants living in the house. Well a real estate agent showed up on the door step to gain occupancy for the bank. The freakin bank forgot to notify the foreclosing lawyer's office that they had accepted a short sale offer and they foreclosed on the house. So here we are a week before closing everything lined up and the flupin bank forecloses. And we all know how easy it is to get up with the closing agent for the bank, mail box is full and won't answer your emails. Our lawyer finally got up with SunTrust closer and she said that Freddie Mac wanted a "Guarantee" that it would close on the 21st before they would resend the foreclosure. Every body involved was calling yours truly to see what we should do. ($hit I don't know) full steam ahead. Got funding approval from USDA first thing in the morning on the 21st and it closed at 2pm A to C. Original debt was $270k negotiated sell price $155k gross appraised at $220 I got paid $2500 bucks from the end buyer out side of closing for negotiation and them staying in the house they love. Real estate agent said couple was so happy that there was alot of huggin and kissin going on in the lawyers office. I guess not sometime but all the time it is about Good Kharma.
Deal # 2 done and under my belt been working on it since October, fair warning Sun Trust is SLOW and non responsive.

No Doubt. Where was that in the Short Sale Get Rich Course. It is on my White board now
"it is very important to follow-up with the attorney or trustee handling the short sale about the closing date."

I'll get the $2.5K and run!!