Freddie Mac wont pay negotiation fee
Hi every one. I have a deal I have been working on since October. Loan is with SunTrust (Freddie Mac). My LLC stepped out of the way to let the end buyer buy directly from the bank. Agent is only getting 3% and my negotiation company was going to get 3%, purchase price is 100% of BPO. Negotiator says we have final approval on the first but they (Freddie) will not pay the negotiation fee. What should I do. My LLC (the original buyer) still has Notice of Option on Property. Also end buyer has agreed to pay me $2500 for negotiations for him. Thanx Any help would be great.
Most Popular Reply
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!