Naperville Short Sale Sellers - My Commission is Paid by the Lender
As a Naperville Short Sale Agent, I receive emails from homeowners who are considering a short sale. Some questions might be:
What is the short sale process?
How long does the short sale take?
How many short sales have you closed?
Do you have an Attorney that you can refer me to?
But then I sometimes get the question, "How much is your commission?", I will answer that question and then I won't hear back from the homeowner. Now don't get me wrong, the seller has the right to know how much the commission is on a short sale. The short sale seller is still in control and has the right to hire the short sale agent that he/she sees fit to represent them to short sell their home, but not based on the commission. Unless the seller is only short a small amount, the commission should not even be a factor.
Let me explain why:
What is a Short Sale?
A short sale is a situation is which the seller owes more money on the mortgage than the sale of the property will likely produce on the market and the seller is unable to bring money to closing.
Reasons for a Short Sale:
- Job loss
- Business failure
- Divorce or death of a spouse
- Payment increase or mortgage adjustment
- Illness
- Relocation
- Loan Modification denied
- Reduced income
Now as a Naperville short sale agent my job is to sell your home as a short sale because of one of the reasons that I just mentioned.
My job is to price your home correctly and make pricing adjustments if necessary, so your home is not sitting on the market until (1) you have depleted all your saving and you can not longer make the payments or (2) the sheriff comes knocking at your door.
My job is to market your home so that your home is getting the maximum exposure.
My job is to make sure that the lender/s has all the documents that they need in a timely manner so that there are not any delays in the short sale process.
My job is to keep the buyer's agent updated so that he/she can update their client/s so that they are not getting upset because they have not heard anything in weeks and decide that they not longer want to purchase your home.
My job is to put out all fires and keep everything together until we all walk away from the closing table.
My commission? My commission and all other expenses are paid by the lender, because my job as a short sale agent is to help you out of this stressful situation so you can take control of your life again and have a fresh start.
About Maria: A Realtor with RE/MAX of Naperville, she's been helping home-buyers and home-sellers since 1997. If you have any questions or would like more information on Short Sales in the Naperville or surrounding areas, she can be reached at: mmastrolonardo@gmail.com or (630) 248-6077.
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