Posted by Jess on November 08, 2001 at 23:12:47:
In Reply to: Re: Factoring Realtor Commissions posted by Mike McGinnis on November 08, 2001 at 22:01:15:
One guy does due diligence on the deals i.e. tries to determine the likelyhood of an appraisal coming in much lower, etc. etc. The other guy I spoke with said it's really no problem at all. Especially once you are dealing with the same agents after awhile. Generally what he does is just have the agent make it up on another sale, or the agent can just give the advance back. Obviously he makes them sign something. I'm still picking their brains but it seems you can reduce your risk enough to make it really profitable.