Comments on: Agent Greed Targeting Short Sales http://blog.findwell.com/buying-a-home/agent-greed-targeting-short-sales/ Seattle Real Estate Info, Advice, Statistics & Discussion Thu, 19 Jan 2012 01:51:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Rporter http://blog.findwell.com/buying-a-home/agent-greed-targeting-short-sales/#comment-265 Rporter Mon, 28 Jun 2010 22:32:16 +0000 http://blog.findwell.com/?p=431#comment-265 We've been watching the short sale scenarios play out over the last couple of years and will finally be jumping in with coordination services. The service contracts with a local tax attorney who consults with the seller to evaluate IF the short sale option makes sense. From the escrow standpoint, we see far too many SS transactions fall apart thus wasting everyone's time and emotions. <br><br>The fee's are $1,000 for coordinating (assisting to gather all seller forms for attorney consult/bank review, weekly calls to lender, communication to parties, coordinating HUD-1's w/ escrow, etc.). A non-refundable $250 is collected up front with the remainder due at closing. For actual negotiation (if requested by seller after ss lender responds), a $500 retainer is collected by the attorney firm and additional balance of $1,500 at closing. Total flat fee of 3K if transaction closes. We've witnessed from escrow that ss lenders will pick up atty fees about 50% of the time. <br><br>Helping to qualify if a short sale listing should be marketed in the first place is a good place to start!<br><br>Rob We've been watching the short sale scenarios play out over the last couple of years and will finally be jumping in with coordination services. The service contracts with a local tax attorney who consults with the seller to evaluate IF the short sale option makes sense. From the escrow standpoint, we see far too many SS transactions fall apart thus wasting everyone's time and emotions.

The fee's are $1,000 for coordinating (assisting to gather all seller forms for attorney consult/bank review, weekly calls to lender, communication to parties, coordinating HUD-1's w/ escrow, etc.). A non-refundable $250 is collected up front with the remainder due at closing. For actual negotiation (if requested by seller after ss lender responds), a $500 retainer is collected by the attorney firm and additional balance of $1,500 at closing. Total flat fee of 3K if transaction closes. We've witnessed from escrow that ss lenders will pick up atty fees about 50% of the time.

Helping to qualify if a short sale listing should be marketed in the first place is a good place to start!

Rob

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