Finders fees @ closing

5 Replies

Are you a licensed agent? Or did you at least have the properties under contract? Or even an agreement with the buyer or seller that you would be paid a finder's fee? You didn't post much info, so it's hard to say for sure, but from what you wrote you likely won't be able to get paid a fee at closing. Probably the most you could hope for is that the buyer or seller found value in you bringing them together and one of them gives you a gift card or perhaps some money. In the future, if you want to ensure you get paid at closing, consider getting licensed (if you're not already).

In regards to what the others are saying, I don't know your state's laws. You need to research it. If it is not an issue, have escrow draw up an assignment agreement. They put your assignment on the HUD of the buyer only and it becomes a part of his closing costs. They can add a one line item "marketing fee."

Putting a fee for this on the settlement statement would be a violation of PA's brokerage laws. If you know the parties that increases the likelihood that whatever happens ... happens outside of closing.

Recommend you get up to speed on what is legit in your state and how to protect your interests.

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