More and more we are seeing on a conventional purchase that the property seller is using a negotiator to reduce their balance owed to the bank. If a short sale negotiator handles this they will have a fee associated with this service.
Some property buyers have agreed to pay for this fee. This expense is not considered a customary charge therefore it will be treated as a sales concession. It is important to know this as the amount of determined sales concession will reduce the sales price or value of the property from an underwriting perspective.
Heather Burns
Home Mortgage Consultant
Guild Mortgage Company
425-945-8035 Office
206-714-3522 Cell
206-577-2901 Efax
Apply Online: http://www.guildmortgage.net/heatherburns
Follow me on Twitter: http://twitter.com/urownlo
Comments (4)Subscribe to CommentsComment