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Updated about 1 year ago on . Most recent reply

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4
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Kevin Jornlin
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4
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Can I Change Short Sale Negotiators?

Kevin Jornlin
Posted

As a buyer of a short sale property, I just learned that there is a 3% short sale specialist fee, which the buyer is responsible for paying. This fee adds up to $18k, which seems very high to me. I didn't hire the short sale specialist - I assume either the seller or the bank did, so it seems crazy that I have to pay it. What are my options?

BTW - our initial response was to just lower our offer by $18k but the bank won't accept that. We offered $615k, which they WOULD accept but only if we paid the short sale specialist fee. The house appraised for $670k, so we're still getting a deal even with the fee. But I'm just wondering if we can get that fee lowered. Thanks!

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17,707
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Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
15,261
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17,707
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Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
ModeratorReplied

@Kevin Jornlin

I doubt that will be negotiated. You can try but also if you are getting a deal, then I would be happy

  • Chris Seveney
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7e investments
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14 Reviews

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