Mortgage Finders

Realtors/Mortgage Lenders Help!!?

I have a commercial pocket listing. I told a mortgage lender I know that deal in commercial loans and told him if he had someone interested let me know. He calls me the other day and says he has an interested buyer BUT, there’s always a BUT. But, it’s not his buyer, he has another friend that is a commercial lender and it’s his buyer. The buyer does not have an agent so I will be facilitating the deal. The mortgage lender wants a 3% “finder’s fee” and my friend the lender wants 1% of the total purchase price from me (out of my commission, which is 2.5%), or they won’t bring the buyer to the table. Can the buyer’s lender get a 3% commission, my head and R.E. laws tell me NO, I already know I can’t pay my “friend” the lender 1% since he isn’t licensed? I am extremely perplexed by this, he tells me “it’s done all the time” I had never heard of it.

laws vary from state to state. In most cases if not a party to the contract they cannot get any funds. It may well be a scam

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