I am working on a short sale where PNC mortgage has both the 1st and the 2nd -- completely different negotiators. 1st is owned by Fannie Mae. 2nd investor is undisclosed.We have approval from the…Continue
"reason why I ask is the bank says seller concession needs to be at 1% but that was on a previous conventional offer. My new offer is an fha offer and buyer is asking 3% at 3% it would still meet net. "
"Does anyone have any other experiences similar to this, where they have been asked to redirect a portion of the commission to a third party entity, or a real estate broker not involved with the procurement of an offer? If so, please contact me…"
"Thanks for the info. I just got a short sale listed, but when I sent the offer to BFA, they said that the loan was released over to BSI. Now I have to start all over again, and not only that but I ma learning that that after issuing approval,…"
"I just closed a transaction with them and they did require the 1%. But honestly, they were the easiest short sale I have ever done. I've never had a negotiator actually email me for updates on when the closing is happening, etc. I…"
"I tried as hard as I could to negotiate out of the 1% fee on 2 deals but lost. Its take it or leave it. They got me on the figuciary duty to the owner to close on an approval, and they know it. The only good thing was they were rational and…"
"yep, I am having a similar issue. They want the referral fee in addition to the reduced commission of 5%!!! WTH! And their BPO values are inflated. Mine was also an FHA with BofA, now non FHA. Negoitating an offer now. Can…"
I am a Realtor with RE/MAX Integrity. I earned my CDPE in May 2009 and have been heavily involved in short sales ever since. Many are my own clients and others are for fellow Realtors who prefer not to be involved in the short sale facilitation part of the process. I learn something new every single day.
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