I find myself answering many of the same questions when it comes to Short Sales. There I was today in my Murrieta, CA office talking with a client who would like to Short Sale their home in Temecula, CA. They asked me if they would be responsible for my commission and other fees associated with the sale of their home. The simple answer is NO! I have not come across a situation where the seller has had to pay my commission, negotiation fee, escrow/title fees or any other fee. However, there are some circumstances where the bank will ask for a seller or buyer to contribute money to help cover some costs associated with the sale.
For example, I have had a situation where the seller’s lender needed an extra $2,000 to close this transaction to cover delinquent Homeowners Association dues. The seller was not in a financial situation where they could contribute money, but the buyers were. The buyers really wanted the home and were willing to pay the $2,000 the bank was asking for. We closed this sale and everyone was happy. The seller was able to avoid foreclosure and save their credit while the buyers were able to buy a home and start planting roots for their family.
For answers to any other questions associated with Short Sales you can view some videos at http://www.theshortsaleminute.com or request my Free e-book at http://www.dontforeclose411.com.
This is Ryan Smith from Temecula, CA signing off until next time……..
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