How do the Realtor fees work in a short sale?




How do the real estate agents and closing fees get paid in a short sale?

Considering a Florida short sale but wondering how much it will cost? How will all the fees get paid if there is no equity in the home? In a short sale, all closing costs are paid out of the proceeds of the sale, with the lenders agreement.


Nearly 100% of the time short sellers have no out of pocket costs in a short sale!

How does that work exactly? How do the Realtors get paid?

There are several costs involved in selling your Florida home:
  • Real Estate Commissions
  • Deed Stamps
  • Owner’s Title Insurance
  • Title Search
  • Settlement
  • Survey
  • Seller concessions
  • Prorations

In a short sale, there are no proceeds to the seller.  Lenders allow these costs to be deducted from the proceeds of the sale and, the lender accepts the remainder of the funds as short payoff for the loan balance.

florida short sale services
FOR EXAMPLE: Let’s say the home sells for $200,000. In a short sale, the lender doesn’t get $200,000. The lender gets $200,000 minus all the costs of sale, including REALTOR® commissions, closing costs, payoffs to junior lien holders, seller concessions to the buyer, etc. So, at the end of the day the lender agrees to accept a net of, say, $182,000 (remember, this is an example only) after these costs.

Need help with your Florida short sale?

I can't recommend Minna enough for a short sale! She eased my mind during the entire process and followed through 100% from day 1 to the closing. She and Jaime handled everything flawlessly. I am so grateful to Minna and Jaime for all that they did to help us through this process.


Last Updated on July 10, 2024 by Minna Reid


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