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lender standard pratices and short sales

Posted by Yvonne Westerman on February 15, 2011 at 10:25am in Short Sale Discussions

Hello all,

 

I am in Palm Beach County Florida, Boynton Beach to be exact.  I would like to get some feed back from as many as short sale superstars as willing to give.  Here is my question:

 

Does anyone know where we can find what is typical for an investor when approving a short to consider or want to see in reference to closing cost.  IE sales price 200,000 dollars is 10% the most they usually want to have to pay out inclusive of everything.  2nd, commissions, title fees, stamps etc.

 

Thanks

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Replies

  • Yvonne Westerman February 16, 2011 at 3:08am
    Thank you for your response.  I wish that as well.
  • Smitty February 15, 2011 at 11:15am

    I'm not sure this information has been gathered collectively.  I think at best everyone can give you their experiences with certain lenders.  I've seen one lender contribute on a financed offer and when it fell through a cash offer was put in and there was no contribution, so even the same investor could have different standards for different types of offers.

     

    I WISH there was a way we could track this stuff as a community.

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