Hello
I have a question?
If we have short sale but only 2nd lien holder short money. Who is going to pay commision for agent?
My case is 1st with Wells Fargo and 2nd with BofA. 1st owed $650,000. Second owed $300K. Value about $750K.
Please let me know
Thanks
Tags:
The commission is paid as normal unless the 2nd pushes back. But on your HUD, have escrow get the payoff of the 1st then deduct everything, including your full commission, and that's what's left for the 2nd. Also contact BOA to see which department it is with their 2nd if a HELOC it can be quick or a longer process depending on what type of HELOC it is. Hope that helps.
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