short sale negotiators: The fee associated with a short sale negotiator is considered a sales concession?
- 08/17/10 08:23 AM
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.
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.;)
;)
