Gary Frimann, CRS, GRI,  REALTOR and Broker (Eagle Ridge Realty / Signature Homes & Estates)

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Rainmaker
1,558,474
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

No, I repeat, No. I hope that I am not unclear - No.

Oct 21, 2018 10:46 AM
Ambassador
2,364,210
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  

     (1)  The lender has to be notified.

     (2)  I want my name on the Deed.

     (3)  I want my lawyer to draw up said Deed.

Oct 21, 2018 11:19 AM
Rainmaker
547,757
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I did have a couple who bought above their means and asked to borrow my commission...

Oh hell no!

Eve

Oct 21, 2018 09:53 AM
Rainmaker
713,934
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

No.

My first thought is that the primary lender may not be o.k. with that since it changes the equity that the lender expected the buyer to have when issuing the original loan approval.

Oct 21, 2018 10:54 AM
Rainmaker
1,700,459
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Never been asked.

Oct 21, 2018 10:48 AM
Rainmaker
530,239
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

Yes, once and it was basically asking me to hand over my commission.  I declined.  My client's money problems are not my money problems, and I'm not going to toss in money to close a deal.  But I think you are right - we may see more clients asking us for cash - not just a reduction in our fees - but cash in order to close. 

Oct 21, 2018 10:42 AM
Rainmaker
1,659,993
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I have not Gary Frimann 

Oct 21, 2018 10:30 AM
Rainmaker
777,642
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Nope

Oct 21, 2018 12:22 PM
Rainmaker
942,085
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I've done that in my "private" investing world, but never as a REALTOR.

I've also had to foreclose on my seller notes twice-it's a slippery slope, so I just wouldn't mix the two with my retail clients.

Oct 21, 2018 11:30 AM
Ambassador
1,666,330
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Helping you find your way home.

I have never been asked... good thing, too.

Oct 21, 2018 10:55 AM
Ambassador
4,071,947
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Never been asked.

Oct 21, 2018 10:49 AM
Rainmaker
1,261,114
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

I have not...

Oct 21, 2018 10:38 AM
Rainmaker
5,123,799
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

no, and I wouldn't.... I've held second mortgages on properties I've owned, in order to sell them in a buyer's market.... I collected all of them except one that I took a loss on.... that was ok.

I still have one on an owner occupied home.... about $50k....my heirs will collect that one.

Oct 21, 2018 10:14 AM
Rainmaker
2,827,176
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

No. And, no. I am not a bank or a lender.

 

Oct 21, 2018 02:39 PM
Rainmaker
480,167
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I have been asked, and I have shared with the other agent, buyer and seller all contributing equal parts with an Amendment and got the deal closed.  At that point a percent of something was better than nothing.  Everyone won.

Oct 21, 2018 12:33 PM
Rainmaker
5,509,188
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Yes. Many years ago.

Oct 21, 2018 11:21 AM
Ambassador
2,897,087
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I did this once.  Buyer had three properties he was selling and purchasing one.  No loan involved in the purchase.  One of the closings was delayed.  I arranged a small short term loan with a pending house 2nd as collateral. He purchased the home and his delayed closing happened within a couple of weeks and I was repaid in full at the time of that closing.  Easy Peasy. 

Oct 21, 2018 01:03 PM
Rainmaker
3,215,539
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

1. I have not been asked.

2. I wouldn't if asked. I'm not a lender.

3. Haven't seen many appraisal issues... it's all about pricing the house right and not having sellers accept offers that you know probably won't appraise.

Oct 21, 2018 12:57 PM
Ambassador
4,374,902
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the buyer and the strength of the deal, and if I am also the seller.

Oct 21, 2018 02:15 PM
Rainmaker
2,485,867
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This would make a lot of good sense and is profitable for all

Oct 21, 2018 11:58 AM
Rainmaker
3,429,560
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

No. In all likelihood if a client asked me, he/she/they would be looking for new representation. 

Oct 21, 2018 04:38 PM
Rainmaker
3,052,939
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes but most often when in an extreme buyers market. I can say buying, fixing and selling homes, I did take a few 2nds and even some 1sts from investors buying them to rent. Most paid up, a couple i had to go after and most likely will not be doing that again

Oct 21, 2018 04:01 PM
Rainmaker
759,047
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No. Seriously doubt our broker would allow it. Not worth the extra trouble and risk involved.

Oct 21, 2018 03:39 PM
Rainmaker
574,680
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Hell no, I'm not the Bank of America

Oct 21, 2018 03:14 PM
Rainmaker
3,368,365
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Nope, would not do it!

Oct 21, 2018 02:52 PM
Rainmaker
418,337
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I would never take this on.  If the buyer cannot afford to purchase the home, he/she should find one they can.

Oct 21, 2018 02:52 PM
Rainmaker
552,644
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

No

Oct 21, 2018 01:59 PM
Rainmaker
745,550
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

No and NO!

Oct 21, 2018 01:33 PM
Rainmaker
781,368
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

You bet!

That's when you realize where the real money is.

Oct 21, 2018 11:30 AM
Ambassador
3,447,275
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

No and if I'm ever thinking of doing something so ridiculously crazy as that with my money, I'm SURE my hubby would set me straight before I had a chance to do it! LOL

Oct 21, 2018 10:24 PM
Rainmaker
705,151
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Never, although it may once have been suggested. Best way to lose money. Can't touch that with a ten foot pole. It could be interpreted as an incentive to buy, and worse, as an unauthorized lender, and possibly somewhat as mortgage fraud, as the buyer can't qualify on their own.

Oct 21, 2018 09:45 PM
Ambassador
3,983,767
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I have done it in the past but not motivated to do it now so probably wouldn't.

Oct 21, 2018 06:02 PM
Rainmaker
576,889
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

In a word. "NO!"

Oct 21, 2018 05:42 PM
Rainmaker
1,035,948
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I know a loan agent did it to the kindness of her heart. She was rewarded to sell that property having the biggest deal in her brokerage office double ended.  She actually gave back to the seller most of fees as she felt it was not right .....

The message is if one is kind to others. Good things happen to you. 

Oct 21, 2018 02:34 PM
Rainmaker
4,577,318
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

No and no!

Oct 21, 2018 01:12 PM
Rainmaker
1,040,855
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Have not been asked it would depend on the terms of the note and it would need to be discounted

Oct 27, 2018 04:11 PM
Rainmaker
1,847,189
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist
I have tossed in my commission to make a deal go 
Oct 22, 2018 04:50 AM
Rainmaker
3,129,575
Richard Weeks
Dallas, TX
REALTOR®, Broker

Never asked, nor woud I.

Oct 22, 2018 04:42 AM
Rainmaker
648,270
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

No

No 

No way

Oct 22, 2018 04:42 AM
Rainmaker
4,432,467
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Oct 21, 2018 05:08 PM
Rainmaker
507,622
Jerry Murphy, CRS, SRES
Long Realty West Valley - Anthem, AZ
Anthem, Phoenix, and Scottsdale AZ Real Estate

I once had a debt collector on a H.E.L.O.C. for a short sale I was conducting for a client ask me to contribute to the pay off of the loan.  I said no of course and basically told him where to go.

Nov 19, 2018 04:12 PM
Rainmaker
4,162,415
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

This is NOT the Bank of Joan.

Oct 24, 2018 05:35 PM
Rainmaker
1,338,967
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Never. Wouldn't even consider it.

Oct 24, 2018 03:42 AM
Rainer
123,694
Anthony Kirlew
Group 46:10 Network @ eXp Realty - Gilbert, AZ
Helping You Make Fiscally Sound Choices

Not sure if that would be allowed by the broker or the lender. I would assume it would need to be disclosed as well. And of course, there is the issue of getting paid back, assuming it all went through.

Oct 23, 2018 08:50 PM
Rainmaker
3,983,763
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have never been asked but I offered.   Worked well for both

Oct 23, 2018 08:01 PM
Rainmaker
3,245,019
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I been ask and the answer is NO!

Oct 23, 2018 12:29 PM
Rainmaker
1,264,637
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No and that is not something I'd ever do.

Oct 22, 2018 08:53 AM
Rainer
252,417
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor, licensed in WA

I would not lend money to clients. The deal may close, but there is too much that can go wrong. 

Oct 22, 2018 08:52 AM
Rainmaker
4,797,872
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I will not be doing this.

Oct 22, 2018 07:48 AM
Ambassador
1,656,621
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

No and No and No.

Oct 22, 2018 07:32 AM