The checklist
Ask every company these questions, in writing, before you sign.
1. What is the total cost in dollars?
Ask for the cash you will receive and the amount your brokerage will pay back at closing. The difference is your real cost. A low headline percentage can hide holdbacks, admin fees and wire fees.
2. Is any of the advance held back?
A holdback or reserve means you pay a fee on money you do not get until closing. Premier Commission does not hold back any part of the advance.
3. How long is the grace period, and what happens after it?
Closings slip. Ask how many days you have after the scheduled closing date before anything changes, and what is charged after that. Premier Commission includes 14 days.
4. How fast is the money, really?
Ask for the cut-off time, not just "same day". At Premier Commission, a signed agreement received by 1 PM ET on a business day is funded by ACH that day.
5. What does my broker sign?
Your brokerage will sign something. Ask for a copy in advance, and make sure the company is on your brokerage's approved-vendor list if it keeps one.
6. What happens if the deal falls through?
Ask exactly what you owe, when, and whether the advance can move to another pending deal.
7. Do you file a lien, require a personal guarantee or use a confession of judgment?
These terms decide what is at risk beyond the commission itself. Get the answer in writing and read the agreement before signing.
8. Do you check my credit?
Premier Commission does not run a credit check. Ask whether any check is a hard or soft inquiry.
9. Can I pay it back early?
Premier Commission lets you repay any advance before closing without a penalty.
10. Who do I talk to?
Look for a company you can call and reach a person who handles your file, with a real address and a record you can check.
Signs to walk away
- The company will not put the total cost in writing before you apply.
- The contract has terms the salesperson did not mention.
- There is pressure to sign before you have read the agreement.
Our price-match policy
If another commission advance company gives you a lower written quote for the same deal, send it to us and we will beat it.