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Does a real estate agent have to have a signed HUD from all parties at closing?
Wiki User
∙ 11y ago
There is no law that says that the agent needs the signed HUD. On the other hand, most companies will not pay a commission to their agents without a copy of a completed HUD-1 Statement for their records. Usually the check and the HUD are turned in to the administrative assistants or accounting department to get paid.
Wiki User
∙ 11y ago
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When does real estate agent earn commission?
The real estate agent earns the commission for selling a home or for representing a buyer who has a completed the purchase and sales agreement and ultimate closing on a piece of real property. The commission is paid to the broker of record at the closing, or settlement in some states, has occurred.
My present real estate agent is ineffective. Is it difficult to change real estate agents?
First, you need to review the contract that you signed to see what you committed to. As long as you follow the right procedure then you won't have problems in changing your real estate agent.
Can a real estate broker refuse a commission to an agent who has a signed sales agreement?
Yes, if the agent has violated any component of their Independent Contractor's Agreement.
What is the yearly salary for a real estate agent?
The avreage salary of a real estate agent is about 62,595 dollars
What is the income on a real estate agent?
Real Estate Agents make 3% of the sale of a house. That is 3% for the buying real estate agent and 3% for the selling real estate agent. So this can range widely by house prices. Most real estate agents incomes vary from part time work at $20,000/year to full time commercial real estate agent at $100,000+/year. It all depends on how many houses you sell and how hard you work at it.
Who best describes an independent person who works for both the buyer and the seller between the date the purchase contract is signed and the date the closing takes place?
escrow officer, lender, real estate agent
Which answer best describes an independent person who works for both the buyer and the seller between the date the purchase contract is signed and the date the closing takes place?
escrow officer, lender, real estate agent
When does real estate agent earn commission?
The real estate agent earns the commission for selling a home or for representing a buyer who has a completed the purchase and sales agreement and ultimate closing on a piece of real property. The commission is paid to the broker of record at the closing, or settlement in some states, has occurred.
My present real estate agent is ineffective. Is it difficult to change real estate agents?
First, you need to review the contract that you signed to see what you committed to. As long as you follow the right procedure then you won't have problems in changing your real estate agent.
What are some different real estate job titles?
There are many real estate job titles. Among them are Broker, Agent, Associate Broker, Closing Agent, Loan Processor, Inspector, Loan Underwriter, and Load Documents Closer.
Can a real estate broker refuse a commission to an agent who has a signed sales agreement?
Yes, if the agent has violated any component of their Independent Contractor's Agreement.
Is Colorado a wet funding state?
New Mexico Dry Unless the net loan funds necessary to complete a purchase of real property have been previously delivered to the seller or to the closing agent, a lender shall deliver the required net loan funds within two business days of the time that the lender deems the closing agent has fulfilled the requirements of the closing agent's duties, except for the recordation of documents, and shall: 1. authorize the closing agent to record with the county clerk all documents necessary to complete the real estate transaction and release the proceeds of the real estate transaction in accordance with agreed upon escrow instructions; 2. advise the closing agent of any funding conditions, as set forth in the lender's escrow instructions, that have not been satisfied and instruct the closing agent in writing what is to be done with any of the lender's funds held in escrow; or 3. advise the closing agent that the documentation for the real estate transaction does not satisfy the lender's escrow instructions, specify the manner in which that documentation does not satisfy those instructions and instruct the closing agent in writing what is to be done with any of the lender's funds held in escrow. "Net loan funds" means the mortgage loan amounts specified in the note and mortgage less lender-retained fees, as specified in the lender's instruction to the closing agent.
How much does a real estate agent make a week?
Selling real estate is a commission based profession. Real estate agents get paid when they close on homes, they do not get a regular weekly or monthly income. The amount of the commission paid at closing is negotiated by the seller and the listing agent at the time of listing the home.
What is a final walkthrough?
Your real estate agent will coordinate a final physical walkthrough of your new home prior to closing. This is usually done anytime between the day of closing and two days prior. This is your opportunity to tour the home again and ensure that any agreed upon repairs or changes have been completed prior to you signing your closing documents. It gives you a chance to ensure the property is in the condition you expect prior to closing. Any issues requiring attention will be noted by your real estate agent and addressed with the seller's agent. Find out more at Nestiny.com
Should real estate agent contact buyer after closing?
Yes, because your agent should contact you incase you have any problems. also a good agent always wants repeat and new business. Referrals are very important!
What are difference between an estate agent and an auctioneer?
An estate agent is an agent who is in control or charge or the estate. The auctioneer is the one who is going to get the most money they can from the estate and property.
How do you pay a real estate agent when you sell your house?
The seller pays a fee for service to the listing brokerage firm and selling brokerage at closing out if the sellers proceed. The agent is paid by their brokerage on a commission split with the firm.
