Overcoming Cash Contributions and Promissory Notes

1. What is a Cash Contribution?

  1. What is a Promissory Note?
  1. Why would a lender ask for a cash contribution or promissory note?
  1. My seller does not have the money to pay, what can I do?
    1. Help the seller understand WHY the request was made.
    2. Prepare them at the beginning of the listing.
  1. Solutions
  • Delay in note start
  • Negotiate amount or terms of note
  • Remove note with larger cash
  • Reduce cash contribution
  • Have someone else pay it – why that is not always allowed
  • Have seller find the cash
  • Prove further hardship
    • Additional hardship explanation, separate letter, medical bills, etc

Wendy Rulnick

Wendy RulnickWendy Rulnick is a licensed Real Estate Broker for over twenty years, and has sold hundreds of short sale and pre-foreclosure properties. She has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine as a short sale specialist. Wendy also teaches Short Sale seminars and has developed a special agent training and resource site with her business partner, Bryant Tutas -

Bryant Tutas

Bryant Tutas

Bryant has been in Real Estate for 18 years and is the Broker/Owner of Tutas Towne Realty, Inc located in Kissimmee FL. He is also the co-founder of Short Sale Superstars and co-broker of REGrow, LLC. Negotiating Short Sales is the cornerstone of his business. He does it often and he does it well.


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