Do you get your real estate commission in time to use it toward closing costs?

[Meagan Lapworth]

Hi, wondering if you are entitled to commission for a property and you are the buyer representing yourself, do you get the commission in time to use it toward your closing costs? Or is that not allowed, depending on the state or lender?

[David Ramirez]

You can just tell the closing agent that you want your commission to be credited towards the money you need to bring for closing. They would adjust the ALTA so your commission appears as a credit on your side as the buyer.

If part of your commission goes to your brokerage, you can let them know your split, and they should be able to send a check directly to the brokerage for their portion.

[Russell Brazil]

Depends on your independent contractor agreement with your broker. It can be applied directly to the settlement, so you never receive it.