While FOLIO Title will make every effort to accommodate your disbursement preference, we require Real Estate Broker Commission Disbursement Instructions to be properly executed in our file within two (2) business days of the Closing Date. Otherwise, we will send Real Estate Broker commission payments via ACH to the Real Estate Agent’s email on file to avoid any possible check cancellation fees.
Any changes made to the initial preferences selected in the Real Estate Broker Commission Disbursement Instructions will require the agent to submit an updated Broker Commission Disbursement Information Form. Any changes requested on or after the day of Closing will delay commission disbursements.
Policies for Commission Payments via ACH
FOLIO Title uses CertifID/Paymints.io as our commission disbursement payment platform. If you receive your commission via ACH, you will receive an email from noreply@certifid.com with the subject: “Folio Title LLC is sending you funds…”
FOLIO Title does not charge or deduct any additional fees for commissions paid via ACH. However, some receiving banks charge their clients a small fee to receive ACH payments.
Policies for Commission Payments via Wire Transfer or Checks Sent via FedEx Overnight
Commission payments sent via Wire Transfer or FEDEX Overnight will have an additional charge of $20. Some banks may charge their clients a small fee to receive wire transfer payments.
Policies for Commission Payments that will Picked Up at FOLIO Offices in Doral
If you will come to the FOLIO Title office to pick up a check, our offices are located at 8400 NW 33rd St, Suite 104B, Doral, FL 33122. Please call 786-888-6640 and speak to Daniela Matute or Natali Loze to coordinate the pickup. Our check pick up office hours are 9:00 AM to 4:30 PM.
Broker Commission Disbursement Policies Regarding Payments Direct to Realtors and/or Realtor Credits
If an agent would like their commission to be disbursed directly to their name, we require a Broker Commission Disbursement Authorization (DA) form at least 2 business days prior to Closing/Funding with the following conditions:
(1) It must be signed by the broker; and,
(2) The DA must include an affirmative statement that the broker will issue a 1099 for the transaction to the realtor.
Broker Commission Disbursement Policies Regarding Realtor Credits to Buyers or Sellers at Closing:
If an agent will credit any portion of their commission to the Buyer and/or Seller at Closing, FOLIO Title requires either:
(1) A Broker Commission Disbursement Authorization (DA) form signed by the Broker authorizing the credit and final commission amounts to be paid to the Broker; or,
(2) A letter on Broker Letterhead signed by the Broker authorizing the credit and final commission amounts to be paid to the Broker
Contact Information for Questions
If you have any questions, please contact the Processing & Closing Team handling your file or Daniela Matute at our Doral office by calling us to 786-888-6640.