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Updated over 16 years ago,

User Stats

369
Posts
81
Votes
Ingrid Nagy
  • Property Manager
  • Passaic, NJ
81
Votes |
369
Posts

Anyone ever heard of a "short sale company"?

Ingrid Nagy
  • Property Manager
  • Passaic, NJ
Posted

Hi, I am considering putting an offer in on a home in FL that is listed for $120K as a short sale. The property was previously listed for $160K with no bites. In reviewing the tax and owners records no Lis Pendens appears to have been filed but I've been told by my realtor it is a short sale. I was told that the process to obtain an answer or counteroffer would take 60 days. The realtor also told me that the offer would be handled by a "short sale company" who specializes in negotiating short sales with the lenders. For this service, the seller pays a portion of the "fee" and I would be responsible for the balance (I'm told $1,000). I am hesitant about this as I've never heard of a fee being charged in these situations. Is this something new?? I googled short sales and did find some sites that listed short sale companies. I was just wondering if anyone has experienced anything similar.

Thanks for reading. Ingrid

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