A common concern for many upside down homeowners in Massachusetts that are considering a short sale is….. Who pays the fees associated with the short sale, including Realtor Commission and Attorneys Fees?
It may vary depending on who you use as a Short Sale Realtor/ Short Sale Negotiator. But my short sale team, made up of myself and my attorneys office do not typically charge the homeowner any fees to complete a Massachusetts Short Sale. Our fees and typical closing costs are contingent on short sale approval and are paid for by the bank!! Most of my short sale clients show up to the closing table bringing no money to the closing. Sometimes, depending on the loan program the seller receives money from the bank!! Recently we are seeing homeowners receive up to $35,000 in certain short sales.
In a short sale transaction you may typically see the following:
- Real Estate Commission
- Attorneys Fees
- Tax Stamps
- Discharge and Courier Fees
- Municipal Lien Certificate
- Drawing up the Deed
All of these fees can add up to many of many thousand of dollars but will typically be paid for by the bank.
If you are an upside down home owner, you should never have to pay any fees upfront, be very leary of anyone who wants to charge an upfront fee for short sale negotiations. There are plenty of reputable short sale negotiators that do not charge the seller for the negotiation of a short sale.
This post, Who Pays the fee’s in a Short Sale? was provided by Kevin Vitali. If you are a Massachusetts homeowner that has missed mortgage payments, or facing foreclosure, call Kevin at 978-360-0422. I will explain your possible options to foreclosure. Every situation is different and you have about five options to consider. If a short sale is your best option my short sale team will work to complete a successful short sale on your home. Combined we have successfully closed 100’s of Massachusetts Short Sales. My closing ratio is almost 100% and I can help!!
Short Sale Realtor Services in northeast Massachusetts, the Merrimack Valley and surrounding area including the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury.