Asking for Seller Incentive
How does CitiMortgage handle the seller incentive. I see where they can sometimes give up to $35,000. When my client talked with the Hardship hotline (?) at Citi, they mentioned that he might qualify for hardship assistance. I always have escrow company put in at least $3,000 but I know that Citi can give substantially more. Is this something they tell us or do we request it in the HUD1? I recently had clients receive $20,000 from Chase but the Chase negotiator told us to put it to the HUD1- we didn't request it. Any info or suggestions appreciated.
Replies to This Discussion
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Permalink Reply by Ben Benita on
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Like ANYTHING in life - YOU GOTTA ASK!!!!
We negotiate short sales for agents, have since 2005, and, it is standard practice to ask about relo. assistance and Seller incentives on our first call in to the banks.
You should also ask what commission they will pay to agents......one bank in particular on their portfolio loan short sales pays up to 10% commission!!!
E-mail me and I will tell you who!!!
All my best to everyone, contact me if you need any assistance with your short sales!!!!
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Permalink Reply by TOP END Properties on
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I put $3,000 on all HUDs .. those jumbo incentives are done automatically and asking for it will not help one bit. It's a lottery
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