Does the Seller Pay for Real Estate Commissions When Selling a Short Sale?
There are always a lot of questions when we go to sign listing agreements with new short sale clients. One big one is – “Do we have to pay the real estate commission if the bank is not willing to pay it in full?” Here is my answer to a recent client with this same question:
…This is always paid by the lender and we take whatever they give us and never ask you for the difference and we put that in writing through the ‘3rd party approval’ in the listing agreement. Basically if the 3rd party doesn’t agree to our commissions, the list price, etc.. then they will counter us and we always take whatever they give us. They often reduce our listing and the buyer agent’s 3% commission in short sales but we start at %6 so we have negotiating room when they do ask for a reduction. We also do not have any administrative fees or retainer fees.
Being underwater on your home can feel like such a burden. If you owe more on your home than it is worth and you live in the Northern Virginia, DC metro area, please give our team a call. We would love to talk you through the process and see if you qualify for a short sale. We have successfully sold over 350 short sales and would love to make yours a success story too!
If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!
Jennifer Young Homes
Keller Williams Realty
Bank of America Co-Op Short Sale Program Works to Pay Sellers CASH at Closing!
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About Jennifer Young
Jennifer Young is the CEO and Team Leader of Jennifer Young Homes with Keller Williams Realty. Jennifer is a highly experienced real estate agent and industry leader specializing in the Virginia, Maryland and Washington DC market. Jennifer sells Regular Sales, Short Sales, Foreclosures, Rural Residential & Land. Her team has helped hundreds of troubled homeowners for FREE! Call Jennifer today for a free consultation at (703) 651-5655 or email her.
Hear from our clients…
Jennifer Young was a great agent, especially because of the amazing team working behind the scenes. Her and her staff knew so much about short sales.
Jennifer Young sold our home for us in Fairfax, VA and did an incredible job. It was priced right and went under contract in less than 10 days.
We worked with Jennifer Young and her team when short selling our property. They were on-the-ball and completely on top of my case at all times. .