Will my broker or escrow officer know about my commission advance?
Broker and escrow officer requirements for a real estate agent commission advance
It depends on who pays your commission at the close of escrow. Some Agents get their money directly from their Brokers at the close of escrow. If this is your situation only your broker will need to sign the “Notice of Assignment”. Getting your money directly from escrow requires both your broker and your settlement agent to e-sign our agreement. The “Notice and Acknowledgment of Assignment” communicates to the broker and escrow that you are selling your commission receivable. This is done quickly and confidentially by both parties through their email accounts.
What cities do you provide commission advances for?
Local cities for a commission advance
Commission West is headquartered in the State of California, the County of Los Angeles and within the City of Torrance. Our entire commission advance process operates through the internet and electronic banking system. This allows us to provide a commission advance within every state and cities in the entire United States. So if you live in any of the following California cities we can provide you with a commission advance:
Examples of commission advance cities in California
Who is Commission West and what do they do?
Commission West, Inc. is a California Corporation in the business of purchasing real estate agent’s commission receivables at a discount. Which allows the real estate agent access to their commission once escrow opens rather than waiting up to three months for closing. This process is commonly known as a commission advance. A commission advance allows real estate agents to better manage their business cash flow.
Is your site secure?
Our website https://commissionwest.com is a Comodo secure website. A Comodo SSL certificate is used to protect online transactions with the highest strength encryption. This is the same level of encryption that all banks and financial institutions use to protect their customers information.
What is a UCC-1 Financing Statement?
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt). Commission West will secure a UCC-1 filing for all commission advances.
What States do you operate in?
Although Commission West is headquartered in the State of California, Los Angeles County, City of Torrance our online application allows us to offer commission advance services within the entire United States. The fact that we operate through the internet and electronic banking system allows us to operate across the entire country. So if you live in any of the following states we can provide you with a commission advance:
Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
What if the commission advance sale falls through?
Assign your next real estate commission advance to Commission West.
It’s no secret that ninety percent of all commission advances that Commission West funds close on schedule. This is due to our efficient underwriting process and experience. If a sale falls through, you will need to assign the proceeds from the next deal to Commission West.
Do you offer commission advances for Brokers?
Commission Advances for Brokers or Agents
Commission West offers the same commission advance services to Brokers as they do Agents. If you are a real estate broker and would like to obtain a commission advance. Just apply online through our website at Apply Now . Our only requirement is that a settlement or escrow office is involved with the transaction.
How many commission advances can I have out at a time?
You can have as many commission advances outstanding as you need. However, the total maximum amount outstanding you can have at one time is $25,000.
We can rewrite your existing advance to get the maximum amount on your pending sale or advance a new contract on a different transaction
Do you provide commission advances for mortgage brokers or loan agents?
Commission West provides independent mortgage brokers and loan agents mortgage commission advance services. Either a new purchase or refinance transaction Commission West will provide a mortgage commission advance of up to 80% of your net commission. An escrow account must be opened and we will require the following documents: Sales Contract, Loan Application, Document Showing Commission Due, & Truth in Lending Disclosures.