Career in Real Estate: How much money can you make on a foreclosure deal?
Mar 12, 2009 in
Financial and Loan Tips
Tanya P
Hi, I am wondering how a finance real estate professional makes an income from handling Foreclosures, in any aspect. Is it similar to “points” and a mortgage broker’s way of income?
Hi, I am wondering how a finance real estate professional makes an income from handling Foreclosures, in any aspect. Is it similar to “points” and a mortgage broker’s way of income?
Any Foreclosure specialists in the house?
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2 comments
foreclosures101 on March 13, 2009 at 5:01 pm
0% to 6% .. depends on where the foreclosure stages is at ..
or which banks.
many times it is a set amount of $$$
Amdrmgirl on March 17, 2009 at 3:57 am
You have to have a “connection” with the repo companies who pay around 5-6% of the purchase price to the listing company/agent. Sometimes you can connect with them online. Chase Home Finance, Homesteps, Wells Fargo are a few of the more common ones. Check with the local banks too. They often have repo properties that they’ll pay a commission for the sale of. You have to be a licensed agent or broker though.