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Updated almost 16 years ago on . Most recent reply

User Stats

54
Posts
7
Votes
George Ramsay
  • Investor
  • Marietta, GA
7
Votes |
54
Posts

Red flag on short sale offer

George Ramsay
  • Investor
  • Marietta, GA
Posted

Ive been working on a possible short sale and received the following from the listing agent

--------------------------------------------------------------------------------------------
**** and I work with a 3rd party company that negotiates
all our short sales...They have the relationships with the lenders and are able to make the process of getting each deal to closing that much smoother...Should you make an offer, please keep in mind there is a 1% buyers fee. The VALUE to you and your client is less headache and time on working this deal out with the lender. Not to be presumtuous, but you
would want to make an offer that considers this cost.
--------------------------------------------------------------------------------------------

I called BS and that fee has been now negotiated to the seller on the HUD statement

However any 3rd party that receives money at closing raises red flags that there is some sort of mortgage fraud involved. So im looking every where i can find for second thoughts and on this, and would appreciate any feedback.

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