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Short Sale

Posted on: Sat, 10/10/2009 - 00:52
Short Sale

Does the homeowner (Seller) have to pay closing costs i.e. Realtor commissions & closing costs, if they do a short sale?

__________________

"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.


Posted on: Sat, 10/10/2009 - 02:41 #1
Short Sale

Hi Alana,
The bank pays the Agent. The Agent gets about 4%. As for closing costs, I'll have to get back to you later on that.
Happy Hunting
charlie-d


Posted on: Sat, 10/10/2009 - 03:06 #2
Get back at me

let me know something. I got to try to short sale a house in Escambia County (Pensacola), FL before the bank sets the auction date (which I have no idea when that will be since I haven't receive any correspondence from the attorney handling the foreclosure).

charlie-d wrote:
Hi Alana,
The bank pays the Agent. The Agent gets about 4%. As for closing costs, I'll have to get back to you later on that.
Happy Hunting
charlie-d

__________________

"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.


Posted on: Sat, 10/10/2009 - 03:33 #3
Atlcamel Short sale

The Bank will pay all closing cost for the A-B closing including agents fee up to 6%,if you are going to flip the property your end buyer will pay the closing for B-C. The Short sale can be done at a Double closing.

whurndon
H&H PROPERTY SOLUTIONS LLC


Posted on: Sat, 10/10/2009 - 04:29 #4
Good to know

Thanks, now who wants to bring me an offer to present to BOA. PM me for the address.

whurndon wrote:
The Bank will pay all closing cost for the A-B closing including agents fee up to 6%,if you are going to flip the property your end buyer will pay the closing for B-C. The Short sale can be done at a Double closing.

whurndon
H&H PROPERTY SOLUTIONS LLC

__________________

"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.