Who pays the real estate commission in a short sale the seller or buyer?
Posted on June 18th, 2010 in Renting & Real Estate | 3 Comments »
Joe asked:
The bank insists I put the house up for a short sale before they agree to allow me to deed it back in lieu of foreclosure. Do I have to pay the real estate commission if it is sold in a short sale?
Mar Vista Real Estate
The bank insists I put the house up for a short sale before they agree to allow me to deed it back in lieu of foreclosure. Do I have to pay the real estate commission if it is sold in a short sale?
Mar Vista Real Estate
3 Responses
Vancouver Wa Real Estate
The seller still pays for the realtor, so that should be a factor in the agreed upon price. If you cannot afford a realtor, you can always sell the house on your own – although most banks require an experienced short sale realtor is available to walk through the necessary paperwork in order for an approved sale to happen.
Talk to your bank, they may be able to provide a realtor recommendation – or you may be able to find one that will represent your property for a set price instead of a commission.
P.s. Please report spammers like Victoria and Reta
Frederick Md Real Estate
Seller pays!
Homes In Chula Vista Ca
In a short sale the bank pays the commission at closing.