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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.
What else can I help you with?
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
How do you become a closing agent in NJ?
To become a closing agent in New Jersey, you typically need to be a licensed real estate agent or an attorney, as these professions are most commonly involved in real estate transactions. If you are a real estate agent, you must complete the required pre-licensing education, pass the licensing exam, and adhere to New Jersey's regulations. For attorneys, a law degree and admission to the New Jersey Bar are necessary. Additionally, gaining experience in real estate transactions and understanding the closing process is essential for success in this role.
Can a real estate agent represent themselves as their own agent?
Yes, a real estate agent can represent themselves as their own agent, but it is important for them to disclose this fact to all parties involved in the transaction to avoid any conflicts of interest.
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.
As a real estate agent, can you sell yourself a house?
Yes, as a real estate agent, you can sell yourself a house by representing both the buyer and seller in the transaction, as long as it is done ethically and transparently with full disclosure to all parties involved.
Can a realtor act as their own agent in a real estate transaction?
Yes, a realtor can act as their own agent in a real estate transaction, but it is important to disclose this dual role to all parties involved in the transaction to avoid any conflicts of interest.
