6. Who Pays My Agent When I Short Sell My Home?
Because a short sale usually comes about in a financially trying time, the standard realty fees can be a concern. But the homeowner need not worry about the financial strain of short selling his or her home.
When the lender agrees to the short sale, the real estate agent begins to market the home to potential buyers. At this point, the homeowner is only required to allow potential buyers view the home.
When the home is sold, the commissions are paid from the money the buyer places in escrow; therefore, because there is no equity in the house, the lender ultimately is the one paying the entire sales commission.
Since lenders are already losing money on the sale, it’s common for them to offer less than the average sales commission to the real estate agents involved.
Do These Real Estate Tips Really Apply to YOU?
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It's my job to personally advise homebuyers and sellers. Ask me if any tip that I've included here really applies to your situation.
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