Below is a transcript of the video above.
Hi Short Sale Kurt Here!
I wanted to give you an answer to a question I have been getting more frequently when speaking to people on the phone and that is… how much does a short sale cost? I haven’t talked about this for quite some time and the for the reason being, that I’ve been doing so many short sales that I just assume people know the answer to this question but I am finding that not everyone goes to my website or reads what I have to say. So I wanted to put it out there once again so everybody out there understands completely just how a short sale works and how much a short sale cost and the answer to that question is…that it absolutely as a homeowner should cost you nothing out of pocket what so ever to a Real Estate agent or Real Estate broker. Plain and simple a Real Estate agent in a short sale transaction will be paid for by your lender or your bank…why? Why, would they do this? Well the other option is if the property goes to foreclosure, typically the bank will take the property back and they will hire another Real Estate agent to go and sell the property and pay the commission to a Real Estate agent. It’s basically a wash for them. So just wanted to make sure everyone understands that in a short sale transaction the seller will never pay any fees whatsoever to the Real Estate agent or broker. With that being said it’s important for you to realize this and understand if you’re not paying for the services why not go out there and hire the best possible Real Estate agent you can find with the most experience, best track record and has relationship established with the banks and executive offices out there. It’s in your best interest to go out and there and hire the Real Estate agent you can. This is probably one of the most important real estate or financial decision your ever going to exercise when it comes to your short sale. There could be tax implications, there could be deficiency issues in regards to whether or not you will have to pay any money back to the bank and all this comes to how someone negotiates on your behalf or strikes a deal with the bank on your behalf that will hopefully allow you to walk away free and clear. There are different options for you, you can hire a Real Estate broker, you can hire somebody to do the negotiations themselves or some people like to speak with an attorney when it comes to a short sale, all of those are excellent options you should do!
But again in order to sell your home it does not cost you anything what so ever in a short sale process. So go out there and there and find the best agent or broker you can!