All Buyer Paid Commission and / or Transaction Fees should be included on a Buyer Brokerage Agreement, signed by all parties and uploaded to Paperless Pipeline ( see sample document attached). This is like a listing agreement for Buyers. This should be reviewed and signed when you begin working with a Buyer.
The agreement for seller paid commission is provided to Buyer's Agents via the MLS Co Broke as negotiated between the Seller and the Listing Brokerage. Any request for additional fees to be paid by the Seller (ie Transaction Fees) should be included on the Listing Agreement.
Commissions or fees, (buyer paid or seller paid) should not appear on the FAR/BAR sales contract.
Please be aware that when the buyer is purchasing with a loan, buyer paid commissions and any transaction fees should be disclosed and discussed early on (preferably before making an offer ) to the lender to verify that the Buyer has cash to close inclusive of the commission and fees which may not have been included in their preliminary loan pre approval discussions.
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