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Updated about 8 years ago,

User Stats

5
Posts
1
Votes
Jonathan Ruiz
  • Hanover, MA
1
Votes |
5
Posts

Signed P&S on short sale: NOW BANK ATTORNEY RENEGOTIATING = FISHY

Jonathan Ruiz
  • Hanover, MA
Posted

Here's the story....Signed a purchase and sale on a short sale property that's been on the market for over 600 says. I'm representing my corporation as a licensed real estate agent, seeking 50% of the commissions. First lien holder approves the deal but at a max commission of 4.6% and a payout to second lien holder of $3500. I get a counter proposal from medigating attorney asking for a $2500 contribution to satisfy the second lien. In trying to communicate what this looks like and justify her explanation that this is not an increase in the purchase price-the attorney sends over the HUD- the HUD reveals the commission break down and brokerage representing the seller is scheduled to receive roughly $2200 more in commissions and keep EMD of $2500. Below is attorney's explanation. What do you think? Anyone ever encounter this?

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