Replies to This Discussion

Permalink Reply by Laura Rivera on April 3, 2011 at 1:13pm

HI Maria,

I had a similar situation where buyer offered $145K, all cash,  bank came back w/ $165K, buyer countered the counter at $150K all cash, bank countered w/ final "we are short $1300" , so from $15,000 difference, I was able to convince the bank to give it another try. My seller don't have $1300 to bring to closing table, I am not about to give one penny out of my commission, so this is how we handled it, I asked the buyer's agent if buyer is able to contribute $1300 at closing without raising the price, after all, the bank only wanted the net, and it does not matter where (the agents, buyer, seller) the $1300 come from. I told the buyer's agent that I was able to negotiate the $15K difference to $1300, and buyer should pay for it, and he did, and it will show on the HUD1 as credit to seller (B of A) without changing the price. Maybe you can do it, that buyer and seller split the $1000, same price at $140K, and you both get to keep your full commission.

Permalink Reply by Aneetra Isis Sherrell on April 13, 2011 at 1:18pm

But why not just split the difference? Risk not closing at all and you get no money or having to restart the process with a different buyer for $500? Then you would certainly put more than $500 worth of work into a new buyer I'm sure.