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Do Lenders pay a referral fee to a Real Estate Broker for referrals?
Wiki User
∙ 11y ago
No, lenders are not permitted to pay referral fees to real estate brokers. It would be a violation of RESPA.
Wiki User
∙ 11y ago
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What does an estate broker do?
An Estate Broker is a person who acts as the middle man between buyers and sellers of real estate. They help with the transaction.
Can a real estate broker waive his commission to another person?
A real estate broker can waive a commission at will.
How is a real estate broker different from a real estate agent in California?
A real estate "agent" is licensed to practice real estate, but only under the direct supervision of a broker. Without a broker to oversee their activities and take responsibility for their actions a real estate agent is not allowed to practice. There is a trick of language here though, and it has to do with Agency Law. By law, an agent is a person who acts on behalf of someone else. A real estate broker is also called a real estate agent. This is because they are acting as an agent for the buyer or seller in a transaction. So the broker has the legal title of "broker" generally and the title of agent in relation to his or her client. A real estate agent working under a broker is an agent only to the broker, the broker is agent to the client.
What makes a real estate broker different from a real estate agent?
Real estate broker & Real estate agent are same both of them will do the same job.Answer:Real Estate Brokers required to have more experience and education, than agents. And also a real estate agent may be a person who works under a registered broker.
What qualifications should a mortgage broker in Canada possess?
A mortgage broker in Canada should possess knowledge of the real estate industry; knowing how to make a deal. It is also important to have knowledge of the area where the work is done, to be able to better help clients. A mortgage broker should also have a strong relationship with lenders and have good communications skills.
Can A Texas Real Estate Broker take a Net Listing?
Yes, texas real estate broker can take a net listing.
Would you capitalize 'real estate broker'?
No, the term "real estate broker" is not typically capitalized unless it is at the beginning of a sentence or part of a title.
What mean Broker of record in real estate?
The Broker Of Record is the Broker covering the listing or buying side in a Real Estate transaction. He/she is registered as the person responsible for the conduct of a brokerage and the agents who work for it.
Real estate broker?
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If an estate is in debt bad loans on the estate are the adult children responsible for it in the state of Florida?
The law states that you have to notify lenders of the death of the debtor in question within a certain amount of time following the debtor's death. I don't know what amount of time that is. But the practical reality is that, even after you provide the necessary notifications, lenders frequently won't follow through on the procedure required under Fla. law to pursue the debts of the decedent's estate in the time allotted to them, which I believe is 30 days. It's simply a matter of logistics. Lenders are frequently large corporations and the appropriate department at the lenders just don't get the notices of death in time or they fail to act in a timely manner. And if the lenders don't follow through in the requisite amount of time, they forefit their rights to collect from the estate. You'll want to talk to a lawyer in Florida. Call lawyer's referral service and ask for a wills and estate lawyer. I'm not from Fla, but my grandmother recently died there and I found a great lawyer through the referral service. Even before I met with him and retained him to pay for his services for my grandmother's estate, he answered most of my questions for free over the phone. So, make some calls.
What is a US estate agent called?
broker
What is a BPO in real estate?
"The BPO, or Broker Price Opinion, is a tool used by lenders and mortgage companies to value properties in situations where they believe the expense and delay of an appraisal is not necessary." You can read more about it at the link provided below.
