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Answers (1)
- Craig Fialkowski GRI ,CDPE, "craigfial"
- Contributions:573
Short Sales are all about the NET to the investor that owns the loan. They don't care about extras....
When the attorney finds out what the seller(investors) NET is in order to approve the short-sale, they add in all the closing costs, which is how they come to that number. The buyer always pays the Real Estate Commissions, but it comes from the seller at closing. It's built into the price...
The fees, expences should not interfere with your choice to acquire the property as long as it fits in with what you are willing to pay for it.
It does seem like the sellers attorney fees are inflated to handle a short-sale, so you can probably get them to about $800.00 since they are also likely handling the title work. The liens are going to be difficult to negotiate since the sellers attorney is the one to handle that, but they may already be reduced.
Again, if the property is what you want, and in the budget, go for it.
All the best.
When the attorney finds out what the seller(investors) NET is in order to approve the short-sale, they add in all the closing costs, which is how they come to that number. The buyer always pays the Real Estate Commissions, but it comes from the seller at closing. It's built into the price...
The fees, expences should not interfere with your choice to acquire the property as long as it fits in with what you are willing to pay for it.
It does seem like the sellers attorney fees are inflated to handle a short-sale, so you can probably get them to about $800.00 since they are also likely handling the title work. The liens are going to be difficult to negotiate since the sellers attorney is the one to handle that, but they may already be reduced.
Again, if the property is what you want, and in the budget, go for it.
All the best.
i'm buying a short sale condo for $52000.
the sellers lawyer counter offer at $58000. the bank is asking for $51000 plus $2500 in leins, the sellers lawyers fees for $1800 and commission for $3501. my question is why am i being charged for the sellers lawyers fees and all of the commisions?
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