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can listing agent help out when the bank requires the seller to pay a cash contribution

Posted by Maxwell Parsons on May 11, 2010 at 8:12pm in Short Sale Discussions
Do you know if banks allow the listing agent of a short sale to help the seller out with the cash contribution and give a portion of their commission at closing to help the seller pay the cash contribution to close the short sale?  Please advise.  thanks

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Replies

  • Steele V. Propp May 16, 2010 at 2:59pm
    As much as anything it will be dependent on your state statutes. Most allow you to share/rebate commissions to principals of the transaction. But make sure that is legal in your state.

    Other than that I don't see the bank caring one way or the other where the money comes from.
  • Wendy Rulnick May 12, 2010 at 12:51am
    Maxwell - Most lenders will allow that to be on the HUD. Ask the specific lender.
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