FOXmls.com: Nov 11, 2009

FHA rule change could benefit condo market

MIAMI – Nov. 11, 2009 – The Federal Housing Administration is giving the condo market something it hasn’t had for a while – a little breathing room.

Homebuilders hunt for land

LAS VEGAS – Nov. 10, 2009 – The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.

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When a property is listed for sale with a real estate agent ("Listing Agent"), the Listing Agent historically offers a 3.0% commission to the real estate agent ("Buyer's Agent") who procures the buyer.

In this case, FOXmls.com acts as a Buyer's Agent to assist the buyer in the purchase of a home. As a Buyer's Agent, FOXmls.com will receive a commission from the Listing Agent. FOXmls.com will share ("Refund") any commission received over 1.5% with our client, the buyer. Our Refund is subject to lender approval, and there may be restrictions with VA or FHA loans. Your Refund cannot be used as part of your down payment or to meet the capital reserve requirements of your loan program.

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Transaction Example:
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SELLER
PAYS 6%
COMMISSION

Commissions

are split...

3% TO
LISTING
AGENT

3% TO
BUYER
AGENT

Any commission over
1.5% is shared with
you, the Buyer.

1.5% TO YOU
HOME BUYER

1.5% TO US
BUYER AGENT

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