What responsibilities does a seller have during a short sale?

The seller must provide financial documentation, sign lender authorization forms, cooperate with property showings, maintain communication with the lender and Realtor, and promptly provide any additional documents requested during the short sale process.

Do sellers pay Realtor commissions in a short sale?

In most approved short sales, Realtor commissions are paid from the sale proceeds and must be approved by the lender. Sellers typically do not pay commissions out of pocket.

What costs does a seller usually pay in a short sale?

Most short sale sellers pay little or nothing out of pocket. Closing costs, commissions, and many transaction fees are usually negotiated with the lender and paid from sale proceeds if approved.

Will I need to provide financial documents for a short sale?

Yes. Lenders typically require bank statements, tax returns, pay stubs, a hardship letter, and other financial documents to evaluate short sale eligibility.

Can a lender require a seller contribution in a short sale?

In some cases, lenders may request a seller contribution or promissory note depending on financial situation and loan type, but many short sales are approved with no seller contribution required.

Who pays closing costs in a Florida short sale?

Closing costs are negotiated with the lender. In many Florida short sales, standard seller closing costs are allowed to be paid from the sale proceeds.

Do I need a Realtor for a short sale?

Most lenders require the home to be listed on the open market with a licensed real estate agent and documented marketing efforts before approving a short sale.

Can a short sale close with no out-of-pocket costs?

Many Florida short sales close with no out-of-pocket costs to the seller, depending on lender approval and the terms of the settlement.

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Seller Responsibilities & Costs in a Short Sale

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