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Dani00518
Gorgeous
Member since 5/05 2730 total posts
Name:
Danielle
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Question for those that used a broker....
We're you asked to pay a deposit when you decided to use someone. This sounds weird to me.
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Posted 8/23/07 1:31 AM  |
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njbound07
LIF Adolescent
Member since 4/07 799 total posts
Name:
pimpette
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Re: Question for those that used a broker....
DON'T DO IT!
THey get paid at the closing. This happened to my mom. She gave a broker a "down payment" which is we were not supposed to. We ended up reporting him to BBB to other reasons too. Everything was an extra charge. In the end we had to fight for our money back. Just go to a bank and cut out the middle man. you can do for yourself what what a broker can do..
good luck
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| Posted 8/23/07 8:13 AM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Question for those that used a broker....
I agree - that sounds weird and I wouldn't do it either. If you have good credit - you don't need a broker.
We have family in the mortgage business and they told us the same thing - go straight to the bank.
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| Posted 8/23/07 8:24 AM |
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LMFitz
life is good
Member since 5/05 2013 total posts
Name:
L
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Re: Question for those that used a broker....
nope
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| Posted 8/23/07 8:55 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Question for those that used a broker....
never heard of that and my DH has been in the business for 6 years
he has mainly worked at banks- but this sounds like a scam to me
his Dad did have a real estate agent that was trying to get money from him before he sold the house
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| Posted 8/23/07 9:27 AM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Question for those that used a broker....
no - no money before hand. they make a LOT at your closing (I just saw his check.) If I could do it over again, I would've gone to a bank or another broker. I didn't have a good experience with mine.
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| Posted 8/23/07 9:30 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Question for those that used a broker....
no. we didn't pay anything.
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| Posted 8/23/07 9:43 AM |
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greenfreak
.
Member since 9/06 11483 total posts
Name:
greenfreak
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Re: Question for those that used a broker....
Our friend is our broker and didn't ask for anything up front. They actually came in better than BOA, and then he lowered his commission by 25% to make the closing costs more manageable also.
I'd be a little cautious about a brokerage that wanted money up front.
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| Posted 8/23/07 9:52 AM |
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Dani00518
Gorgeous
Member since 5/05 2730 total posts
Name:
Danielle
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Re: Question for those that used a broker....
Posted by Dani00518
We're you asked to pay a deposit when you decided to use someone. This sounds weird to me.
The deposit is $450 and cover application and processing fee.
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| Posted 8/23/07 11:32 AM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: Question for those that used a broker....
I've paid the bank a fee upfront (processing fee, rate lock fee, float fee or maybe for the appraisal) but I've never had a broker ask for an upfront fee.
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| Posted 8/23/07 11:34 AM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: Question for those that used a broker....
We paid for the application fee and you also have to pay for the appraisal up front before you go for closing, maybe that is what you are referring to?
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| Posted 8/23/07 11:37 AM |
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Dani00518
Gorgeous
Member since 5/05 2730 total posts
Name:
Danielle
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Re: Question for those that used a broker....
Posted by Mrs-D-Girl
We paid for the application fee and you also have to pay for the appraisal up front before you go for closing, maybe that is what you are referrinig to?
I believe he said it was for the application and processing...I'll ask again
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| Posted 8/23/07 1:26 PM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: Question for those that used a broker....
Posted by Dani00518
Posted by Mrs-D-Girl
We paid for the application fee and you also have to pay for the appraisal up front before you go for closing, maybe that is what you are referrinig to?
I believe he said it was for the application and processing...I'll ask again
I am sure that is what it was for, so don't get nervous and feel like you are being taken advantage of or something. It is normal procedure, just ask 
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| Posted 8/23/07 1:33 PM |
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