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Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Now seller has to fulfill thier obligation, Mason Nettles .

Of course, if they know from the beginning, that may be a short sale and lender has to work this out.

Jan 30, 2015 12:08 PM
Rainmaker
844,376
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

The seller would have to borrow or get an extra job. This is sometimes used as a ploy to get the listing agent to give up some commission.

(If I'm understanding this correctly...if it's just a small amount for seller's concessions and normal costs associated with escrow, title, broker costs that the seller cannot handle than a short sale would normally not be approved for "relatively small" amounts (different thresholds for different lenders/investors). I've known of situations like this being used as a ploy to have commissions reduced.)

Jan 30, 2015 12:01 PM
Rainer
279,648
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

Short Sale?

Jun 10, 2018 11:38 PM
Rainmaker
629,951
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

Short sale?

Jan 29, 2018 10:04 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

refer to an agent who has time to deal with shortsales.

Sep 26, 2019 10:09 PM
Rainmaker
292,535
Jack Lewitz
Exit Strategy Realty - Evanston, IL

There are 2 kinds of seller out there. Those that can and want to sell because they have enough equity and those who need to sell who are struggling. Which one is your buyer. I might also include those that are on the fence. They want to sell but do not have enough equity and will need to continue to live there until the market has  corrected itself and they are in a positive situation. The answers are Short Sale or have buyer pay closing costs are both right but not selling at all is an option too.

Feb 02, 2015 04:46 AM
Rainmaker
4,890,619
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I do a net sheet for a Seller so they have all the financial information before acceptable offers.    If they need to bring money to closing, they should know upfront. 

Jan 31, 2015 09:54 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Time to get creative.  See if the buyer can cover some of the closing costs for some consideration on the price of the home.

Jan 31, 2015 02:37 AM
Rainmaker
6,549,434
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

They would be better to get cash advances on their credit cards than try for a short sale.

Jan 30, 2015 10:33 PM
Rainmaker
3,322,403
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

If the seller owes more than the house is worth, the answer is a short sale if you can not get the price up to cover costs of selling

Jan 30, 2015 09:57 PM
Rainmaker
4,061,351
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

That is a short sale. Clearly, it's something that should have been analyzed prior to listing.

Jan 30, 2015 09:09 PM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You have to work out a short sale with the lender .,unless seller can bring money to closing.

Jan 30, 2015 09:05 PM
Rainmaker
3,333,845
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

It is a short sale....and if you don't have the training and experience..refer the listing.

Jan 30, 2015 08:44 PM
Rainmaker
3,432,049
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Mason, it will complicate the closing process.

Jan 30, 2015 12:55 PM