How much does it cost me for you to do a short sale on my house?
In a short sale we charge $595 documentation fee upfront for hard costs that we incur. The reasoning behind the fee is simple. We want you, the seller, to be sure of your financial hardship. We don't want to take on a short sale listing if the seller is not being forthright with us regarding their situation.
Also with a short sale situation all other fees like closing costs, broker's commissions, etc are all paid for by the bank. The seller does not pay these fees because the seller does have the money to pay it. All of this is in writing prior to the process taking place.
This fee is very small compared to the huge advantage you could have once the short sale is approved and completed.
Is my house too cheap or too expensive to do a short sale?
With a short sale It does not matter how much your home is worth as long as basic criteria below is met you home would be eligible for a short sale:
Property in foreclosure or in default
Little or no equity in the property
Personal financial hardship
At Least 60+ days to a Foreclosure Auction
As I have discussed before, if you do have all four of these conditions currently then you should be eligible for a short sale. If you are not sure about the value of your property or if you have any questions what so ever, feel free to contact us.
