Getting Commissions Covered

We have received numerous requests to create verbiage to include in a short sale addendum that  requires the Buyer to cover any commissions that may be reduced by the seller’s short sale lender.  We have created the following language if you have a similar situation:

“If and to the extent any Lender Approval requires the real estate agent(s)/broker(s) associated with the subject transaction to reduce their commissions below six percent (6%) of the Purchase Price in the aggregate, then at closing, Buyer hereby agrees to pay the amount(s) by which the commissions were so discounted below six percent (6%).”

Should you have any questions or suggestions, please contact our office at 941-954-9991

 Written by Attorney Evan N. Berlin, Esq. Partner with Berlin Patten, PLLC.

 Posted By Karen Gagliardi, Business Development Coordinator with Berlin Patten, PLLC.

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