Who Pays a Short Sale Agent?
If you are like many homeowners, it is only natural to assume that since you are the one hiring the short sale agent, you should be responsible for their pay and commission, right? Wrong. On the contrary, it is the buyer and the bank that pays the short sale agent at the end of a successful short sale deal. Remember though that not all successful short sale deals are rewarding to all parties involved. Some short sale agents would work hard to get their share of commission only to leave the seller with a huge debt to pay or even declare bankruptcy. It is always advisable to hire a short sale agent who puts the interest of the seller first before anything else. The amount of money agreed upon between the bank and the negotiator, and which would be paid by the buyer, is what the agent would be paid from. Some deals leave homeowners with no relocation fees. Always ensure you work with a honest and trustworthy agent.
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