Buyer to Pay Attorney &/or Negotiation Fees? - Short Sale Superstars2024-03-29T14:49:10Zhttp://shortsalesuperstars.com/forum/topics/buyer-to-pay-attorney-or-negotiation-fees?feed=yes&xn_auth=noBRAVO Sheyenne...!!!! could n…tag:shortsalesuperstars.com,2013-02-04:3468065:Comment:2942232013-02-04T17:25:01.710ZPhillip Allenhttp://shortsalesuperstars.com/profile/PhillipAllen
<p>BRAVO Sheyenne...!!!! could not have stated it better.</p>
<p>BRAVO Sheyenne...!!!! could not have stated it better.</p> Why shouldn't a "negotiator"…tag:shortsalesuperstars.com,2013-02-03:3468065:Comment:2941342013-02-03T21:43:13.009ZSheyenne Schultzhttp://shortsalesuperstars.com/profile/SheyenneSchultz
<p>Why shouldn't a "negotiator" no matter WHO they are, get paid for negotiating the deal? Do YOU work for free? As long as it is disclosed upfront and on the contract/and or HUD, and buyer agrees to it in writing, so there are no discrepancies...and the short sale is still a good deal, etc...to the buying side? Then what is the problem? No one works for free..... the short sale negotiators ARE negotiating the short sale for all involved to be able to close a deal and sell the…</p>
<p>Why shouldn't a "negotiator" no matter WHO they are, get paid for negotiating the deal? Do YOU work for free? As long as it is disclosed upfront and on the contract/and or HUD, and buyer agrees to it in writing, so there are no discrepancies...and the short sale is still a good deal, etc...to the buying side? Then what is the problem? No one works for free..... the short sale negotiators ARE negotiating the short sale for all involved to be able to close a deal and sell the home....</p>
<p>The negotiators whether it be a realtor or independent negotiating co. don't get paid half as much as tons of attorney's trying to do this....</p>
<p>What's disgusting is that (at least in LA and Orange Cty areas of Ca) I know several attorney's that are doing this and getting paid MORE than the entire commission of 6% on these deals... really? As if THEY'RE doing ANY MORE work</p>
<p>than a realtor negotiating the sale? Why do u think these attorneys try to convince a seller to go with them instead of an agent??? 1 guy just got paid 7% on a 1 mil deal..because he's an attorney, yet they cut the realtor's commissions to 5%...</p>
<p>I think I just realized what license I'm studying for NEXT...</p>
<p> </p> Exactly, just like all the bu…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2939262013-02-02T20:20:26.458ZJoseph Alfehttp://shortsalesuperstars.com/profile/JosephAlfe
<p>Exactly, just like all the buyer paid fees on an REO.</p>
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<p>Exactly, just like all the buyer paid fees on an REO.</p>
<p></p> Exactly! Disclose early, disc…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2939252013-02-02T20:18:10.705ZJoseph Alfehttp://shortsalesuperstars.com/profile/JosephAlfe
<p>Exactly! Disclose early, disclose often!</p>
<p>Exactly! Disclose early, disclose often!</p> This is exactly what the diff…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2938672013-02-02T20:15:17.655ZJoseph Alfehttp://shortsalesuperstars.com/profile/JosephAlfe
<p>This is exactly what the difference between a short sale processor/facilitator and a negotiator is! Just because you can't get deals done at or under FMV doesn't mean a more experienced negotiator can't. Too many agents and processors give up or go back to buyers and sellers and say, "well, the banks want's X price..." I don't. I negotiate, and I usually get what I want. Case in point is a recent deal that Real FMV was in mid 600K range, the offer was originally for 500K. I got out of…</p>
<p>This is exactly what the difference between a short sale processor/facilitator and a negotiator is! Just because you can't get deals done at or under FMV doesn't mean a more experienced negotiator can't. Too many agents and processors give up or go back to buyers and sellers and say, "well, the banks want's X price..." I don't. I negotiate, and I usually get what I want. Case in point is a recent deal that Real FMV was in mid 600K range, the offer was originally for 500K. I got out of buyer that he was willing to pay up to 600K. I had him adjust offer to 475K (There were distressed comps in the low 500's) and the bank countered at their appraised price of 739K. Dead deal? Most agents and processors would have maybe gotten a little better, or lost the sale altogether. After intense negotiation and a detailed value dispute, we have an approval for 502K, full release to seller. You think the buyer isn't ecstatic to pay my 3% fee at close?</p>
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<p>BTW, the agents are getting their 6%. Their full 6%.</p>
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<p><a rel="nofollow" href="http://www.ssprocessors.com" target="_blank">www.ssprocessors.com</a></p> @Rob: I do not think you can…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2940812013-02-02T20:14:17.075ZMega-Proshttp://shortsalesuperstars.com/profile/MegaPros
<p>@Rob: I do not think you can ensure anybody of that. In my area there have been lobbying efforts to 'standardize' real estate positions for the last 4 years. Thank you for the compliment, and yes, I do know that I do my job very well and with dedication.</p>
<p>@Rob: I do not think you can ensure anybody of that. In my area there have been lobbying efforts to 'standardize' real estate positions for the last 4 years. Thank you for the compliment, and yes, I do know that I do my job very well and with dedication.</p> I disagree. I see the most s…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2939232013-02-02T19:24:33.352ZSmittyhttp://shortsalesuperstars.com/profile/Smitty
<p>I disagree. I see the most seasoned on this thread don't disagree. The question was does it discourage offers? The answer is NO. </p>
<p>I think many agents immediately distrust when they see a buyer paid fee, but when properly disclosed the fee has no impact on how many offers the property gets. It's the price that essentially is going to generate the offer. </p>
<p>We train attorneys in my state how to negotiate short sales. Many have adopted our fee structure.</p>
<p>I don't work for…</p>
<p>I disagree. I see the most seasoned on this thread don't disagree. The question was does it discourage offers? The answer is NO. </p>
<p>I think many agents immediately distrust when they see a buyer paid fee, but when properly disclosed the fee has no impact on how many offers the property gets. It's the price that essentially is going to generate the offer. </p>
<p>We train attorneys in my state how to negotiate short sales. Many have adopted our fee structure.</p>
<p>I don't work for the seller or buyer. I represent the transaction, although I am initially hired by the seller, but my contract is both with the seller and buyer and both parties are repped by agents and attorneys. I work with one of the largest title insurers in New England and we do combined presentations. It can be easily done and I find its the most inexperienced agents who balk at a buyer charged fee.</p> @karen - Again you are not qu…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2940082013-02-02T19:20:07.478ZSmittyhttp://shortsalesuperstars.com/profile/Smitty
<p>@karen - Again you are not qualified to tell a seller or buyer that a negotiation fee "discourages" the sale esp if you haven't been involved in a transaction where one was charged. So I'm not sure you should be telling a seller anything.</p>
<p>I'm not sure what market you are in but most lenders want FMV for a property. If your offer isn't within a FMV range, it likley won't be accepted. Yes, short sales are good deals in comparison to their non distressed counterparts, but I don't see…</p>
<p>@karen - Again you are not qualified to tell a seller or buyer that a negotiation fee "discourages" the sale esp if you haven't been involved in a transaction where one was charged. So I'm not sure you should be telling a seller anything.</p>
<p>I'm not sure what market you are in but most lenders want FMV for a property. If your offer isn't within a FMV range, it likley won't be accepted. Yes, short sales are good deals in comparison to their non distressed counterparts, but I don't see buyers getting HUGE steels.</p>
<p>Also your title company getting fees on the HUD is STILL a charge to the buyer. It comes out of the proceeds of the sale, but it's still a charge the buyer ends up covering in their offer, so just because it's on the HUD and paid doesn't mean the buyer isn't paying for it.</p> Who pays for a service has no…tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2937692013-02-02T12:42:40.502ZBryant Tutashttp://shortsalesuperstars.com/profile/bryanttutas
<p>Who pays for a service has no baring on who the service is being given to. Also it has nothing to do with fiduciary responsibilities. Any party can pay any costs involved in the transaction as long as it is by mutual agreement and is fully disclosed <span style="text-decoration: underline;">if</span> required by RESPA.</p>
<p>Who pays for a service has no baring on who the service is being given to. Also it has nothing to do with fiduciary responsibilities. Any party can pay any costs involved in the transaction as long as it is by mutual agreement and is fully disclosed <span style="text-decoration: underline;">if</span> required by RESPA.</p> Our negotiator is a Realtor.tag:shortsalesuperstars.com,2013-02-02:3468065:Comment:2940022013-02-02T00:03:44.304ZHeather Farquharhttp://shortsalesuperstars.com/profile/HeatherFarquhar
<p>Our negotiator is a Realtor.</p>
<p>Our negotiator is a Realtor.</p>