14.19 How do I show the broker is contributing part of their commission to the Buyer's or Seller's e
14.19 How do I show the broker is contributing part of their commission to the Buyer's or Seller's expenses on a HUD or GFE HUD?
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If using a HUD or GFE HUD, use a line in the 700 or 1300’s section. If using a CD, use a line in Section H.
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Enter the amount of the contribution on the appropriate side (buyer’s or seller’s) as a negative amount in field labeled Paid From Funds, (the Payee should reflect the Buyer/Seller or it should be left blank. In this case, the Broker is giving the credit therefore they are the Payor not the Payee.). This will reduce the amount the buyer or seller funds.
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On the balance sheet, combine the negative amount with the broker’s commission check to reduce the amount of their check