How do the Realtor fees work in a short sale?

January

8

6 comments

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.

FREE SHORT SALE

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.

Casey

Last Updated on July 10, 2024 by Minna Reid

RELATED POSTS:

May 12, 2022

FHA short sales explained!

January 13, 2021

Is your mortgage forbearance ending? Know your options!

March 6, 2020

How can I save my home from foreclosure?

Leave a Reply

Your email address will not be published. Required fields are marked

    1. I have learn a few excellent stuff here. Definitely value bookmarking for revisiting. I surprise how a lot attempt you set to make any such magnificent informative site.

  1. Hi there, You have done an incredible job. I will definitely digg it and personally suggest to my friends.
    I’m sure they’ll be benefited from this website.

  2. We’re a group of volunteers and starting a new scheme in our community.
    Your site provided us with useful info to work on. You
    have done an impressive job and our entire group can be grateful to
    you.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}