Does Medicaid Count Realtor Commission In Fair Market Value?
I have a home listed and have an offer. The homeowner is in a nursing home, and her contact at Medicaid said that the home has to sell for 90% of the fair market value. My question is this -- does that amount have to include real-estate commissions?
In other words, the house's FMV is $90,000, so we need to net $81,000. I understand that, but you have to factor in commissions of $5430.00. Do I need to add this to the bottom line in order to satisfy Medicaid, or is commission considered a separate issue? I'm trying to do a seller's net, and if the buyer basically has to pay commissions in order to net $81,000, we'll never sell this house. Please advise as soon as possible! Thank you!
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