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Can I Afford Your Services? How is my Agent Paid in an Orange County Short Sale?
Can I Afford Your Services?  How is my Agent Paid in an Orange County Short Sale?
 
In a typical equity sale, the seller signs an agreement to pay a commission to the listing agent, and the listing agent then shares this commission with the buyer's agent.
When I meet with sellers who are considering a short sale, which occurs when they owe more on their home than it is worth, they are concerned that they will have to pay an agent commission.  Most can't afford to make their mortgage payments and do not know how they will pay a commission.
I explain to them that any offers they accept will be conditional upon their lender's agreement to pay some or all of the closing costs that are typically paid by a seller as part of the short sale agreement.
Costs that May Be Paid by a Short Sale Seller's Lender
Agents' commission Contribution to second mortgage Escrow fees Title insurance policy Seller contribution to buyers' closing costs Termite repair Hazard disclosures Home warranty Seller moving costs Messenger fees Notary fees Past due real property taxes Past due home owner's association dues County tax stamps Miscellaneous fees Not all lenders will pay all of these costs on a ... more

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