Sellers who are in foreclosure cannot afford afford a Realtor commission. This is a common predicament playing out all over the country and definitely right here in Louisville Kentucky. Homeowners need to sell but don’t have money to pay a real estate agent.
You Can Sell Your House and Your Lender Will Pay The Commission On Your Behalf
Banks let you sell your house for whatever it brings, and your foreclosing lender will pay your Realtor commission so you won’t have to. This happens every day, all day long.
It is called a “short sale” because the lender accepts an amount SHORT of what is owed.
In a "Short Sale" Your Lender Wants To Settle Now
No matter how aggressive your lender seems, they really don’t want to own your house. It is too costly and risky for them to take your home. They would rather settle now and take what they can get from the market.
In a short sale, the lender pays your Realtor’s commission and typical closing costs. They know you don’t have the extra funds right now so they pick up the bill. They would have to pay all those costs later anyway after they foreclose and resell it with a real estate agent, in a year from now.
Foreclosure is Stressful. Put a Short Sale Expert Realtor on Your Side
Foreclosure is a stressful, scary and confusing process. Please put someone on your side, at no cost to you, to help you understand your options. If you are in Louisville KY or surrounding counties, please call me at any time, day, night or weekend. My direct line is (502) 664-7827.
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