I'm just throwing this out there to get a feel for what you (other agents) have seen in your experience with short sales. It's common in our marketplace to see offers where the seller is asked to pay up to 6% toward buyer's closing costs and prepaids. In a "retail" sale, there's no problem with that but I personally have found that, in the majority of short sale cases, lenders will not pay more than 3% toward buyer's closing costs and prepaids. I am considering adding a note that states seller will not pay more than 3% toward buyer's closing costs and/or prepaids on the notes section of our short sale listings and the short sale checklist and addendum we already use. However, I don't want to do this prematurely. Have any of you found that the lender is willing to pay more based on a RECENT closed short sale? If so, who was the lender and how much did they contribute- 4%, 5%, 6%? It would be interesting to see what the experience of other agents has been. Any input based on your recent short sale closings would be appreciated.
If you're looking for an agent in the Gulf Coast area that knows how to price short sale properties, process them efficiently, and most importantly... close the transaction...give me a call. I sell more short sale properties than any other agent in the entire gulf coast area. I'm not bragging, I'm applying for a job. I want your business and/or referrals!
Brandon Watson of Team Sandy Blanton Realty, Inc. BWatson@TSBRealEstate.com or 850-525-3692. 10dayshortsales.com
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