Is it ethical for a Real Estate Salesperson to buy a house and collect the commission?
Answers: I do this every 2 months. You agreed to pay x% to your seller's agent for selling the house. The selling agent has an agreement to split the commission with the buyer's agent (in this case the buyer himself). He is representing himself and doing all the paperwork, why shouldn't he get paid? If it were any other buyer you wouldnt question the commission. BTW, if your paying 6% commission to your selling agent, chances are 3% to seller side, 3% to buyer side. That commission again gets split 1.5% to the sellers broker, 1.5% to the seller's agent and 1.5% to the buyer's side broker and 1.5% to the buyer's side agent. The only time this is not the case is when the buyer or seller IS the broker, in which case they'd keep the whole 3%. So the buyer isnt getting that much of a "discount" on the property he is buying.
Absolutely, there is no law against representing yourself in a buying transaction.
You can collect a commission on a house too as a buying agent (unless the sellers contract explicitly states that the commission will only be shared with a licensed realtor/broker).
Foreclosure?
My house was foreclosed and on my credit report it stated that the house be foreclosed on. It went to auction and sold for smaller number than what i owed on it. they hav ont garnished my wages or even get in contact beside me about me repaying anything. does that scrounging that i am done with it or will it come vertebrae at me by taking my tax return or anything similar to that?Answers: If you have not hear from them, then they haven't file a lawsuit for the losses. And if you haven't received a 1099 from the bank declare the losses they sustained as income to you, then you will not enjoy to account for it at levy time.
They cannot collect anything from you in court.
What do you do if you can't find a cosigner for an apartment?
and if you do find a cosigner, is the person risking their credit for you?Answers: Well if you can't find a co-signer, probability are you are not gonna get that apartment. So you're best to keep hold of looking.
And absolutely the party is risky their credit for you. ANYTIME someone co-signs a loan, they are taking a chance. That's why it's extremely rugged to find someone to co-sign loans. If you default, the responsibility become their problem.
Good luck.
You cant afford the apartment. Look somewhere else.
EVERYONE: NEVER CO-SIGN.
If you can not find a co-signor for an apartment, then you can't lease it. However, if you be able to find a co-signor, that individual is risking his credit for you.