Home > Blogs > KAREN THOMPSON, GRI, REALTOR > KTHOMES Real Estate in Colorado

$1000 Incentive to seller completing short sale

By KAREN THOMPSON, GRI, REALTOR

Real Estate Broker/Owner with KTHOMES, LLC 100002367

January 08, 2010 11:17 AM

Yes, it's true. I was very surprised to learn on my recent FHA/HUD Preforeclosure Sale (short sale) that the homeowner can receive up to $1000 to close a short sale on their property rather than letting it go through foreclosure. The lenders are very open to doing a short sale rather than a foreclosure. Better for all involved.

Re-Blog

Comments(3)

Comment

Show All Comments

Sort:

Chris Dowell

ReeceNichols Olathe - Olathe, KS

Dowell Family Team

I have had a few lenders give money to the seller, but not all. Lately, I have had fewer lenders give the seller money during a short sale.

Jan 08, 2010 11:22 AM

Rose Sutton

United Country West Coast Realty - Florence, OR

This is very interesting news. Thank you for sharing. I know that one of theseller addendums for a listing I am trying to sell says tha tthey would be willing to pay some of buyers closing costs. I never heard of the seller's bank offering to give some money to the seller. Usually they want every penny accounted for and if there is any left then they want it too. I guess it depends on the bank and the location and the style of the home(stickbuilt or mfg).

Jan 08, 2010 11:32 AM

KAREN THOMPSON, GRI, REALTOR

KTHOMES, LLC - Frederick, CO

Colorado Homebuyer Pro

Yes, FHA/HUD will also pay up to 1% toward's the buyers closing costs if the new buyers do an FHA loan.

Jan 08, 2010 11:43 AM