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P. Simmons
P. Simmons, Lawyer
Category: Real Estate Law
Satisfied Customers: 34753
Experience:  12+ yrs. of experience including real estate law.
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I'm an active Real Estate sales person in Arizona and am forced

Customer Question

I'm an active Real Estate sales person in Arizona and am forced to sell my own property using a short sale. Am I allowed to be paid a listing commission if I'm listing the property through our brokerage by me?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  P. Simmons replied 1 year ago.
Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. Please understand that if I ask you for additional information, you are NOT charged again and our communications are NOT timed. So please see this as a relaxed conversation between friends. I am here to helpAlso, if you would like to chat on the phone, let me know and I can make that happen. This is up to the lender. That is, there is no state law that prohibits you from receiving commission on your sale. HOWEVER, a short sale is a contract between you and the lender...and generally speaking, the lender is not going to agree to you receiving compensation (since the lender is going to forgive, as part of the short sale agreement) your debt. Bot***** *****ne: it is legal...but I fear you lender will not agree with this.Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
Customer: replied 1 year ago.
I had a home equity line of credit as a second which they have charged off due to my chapter 7 bk. Ive already put together an offer for them which they will net about 65k after paying the 1st off, so im thinking they should be happy to
Expert:  P. Simmons replied 1 year ago.
Thank you. If they agree? No problem.