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Dishin' Dirt on How Compensation Might be Shown on Settlement Statements After August 17.
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Now that we are a week or so into the new rules on real estate compensation, we need to discuss how your commission might be shown on the settlement statements. Direct compensation, concessions and broker to broker commission most likely will be handled differently and you need to know what to look for on the ALTA. I also will discuss what documentation you might need to provide the closing attorney and the lender.
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Gary
* Gary serves on the South Carolina Real Estate Commission as a Commissioner. The opinions expressed herein are his opinions and are not necessarily the opinions of the SC Real Estate Commission. This podcast is not to be considered legal advice. Please consult an attorney in your area.
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