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What should I expect to pay in fees on a short sale?

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May 24 2011 - Pleasanton
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fees for purchasing a short sale are just like the purchase of another type of sale.  The only difference is the bank will be selling the home "as is" and they typically won't pay for things like home warranties and inspections.  Just make sure you properly inspect the home and check out the neighborhood etc.  Just be sure you know what you are buying.  The advantage of a short sale is you can get a good value.  The banks will often accept a price that is a bit lower than the going rate in the area.  Your broker can help you with comps etc. to be sure.
Good luck!!
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November 29 2011
Jeff, as you have contributed 95 times on these boards, you should be already be aware of Zillows Good Neighbor Policy.
Here it is again for you

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May 29 2011
Should and Will are two different things.  I would speak with a trusted professional and they can go over all the variables as there are MANY of them.   Googling it wont help much either because one of the biggest variables will be the actual property itself.   GOOD LUCK!!!!
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May 29 2011
You should pay absolutely zero fees.  Ask up front before you sign anything if the real estate agent charges any fees. If they do, you should keep interviewing.  All seller fees are paid on the sellers side but come out of the funds from the lenders payoff.  However, your lender may request a cash contribution or promissory note as a condition of approving the short sale. But thats a new topic!
Thanks
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May 24 2011
I am assuming you are asking about the seller side of the transaction.  In that case, most fees are paid from the proceeds of the sale.  Realtor commissions, taxes, title and escrow and some other fees all come out of the proceeds of the sale.  In a short sale, you obviously would not be getting any proceeds, so these are all paid by the bank.  Some Realtors do though charge fees for their service, which should be avoided, they are already getting a commission.

Of course this is speaking in general terms and every lien holder is different in what they will pay and not pay.  Most will NOT pay back HOA dues, bogus fees, more than 12 months of back real estate taxes, etc.

Our team has over 50 files we are working right now to help homeowners!

You can find more info on our website:
 http://http://www.alternative2foreclosure.com/
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May 24 2011
 
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