How would a realtor get paid in a short sale?

Question

How would a realtor get paid in a short sale?

Answer 1

The same way they get paid in any other sale.  A portion of the proceeds are withheld at closing to pay the real estate brokerage fee.  When banks agree to short sales, they also agree to pay any appropriate brokerage fees.

Answer 2

Out of the proceeds of the sale of the house.  The fact that the sales price doesn't cover the loan doesn't affect the  amount they get paid.

Answer 3

They take the loss.  I'm surprised the key to a short sale, not mentioned - a short sale is all about the bank or lender agreeing not to sue you, and avoiding a judgement for the amount of money difference between the note, total, and how much the home is sold for.

The lender is agreeing to accept the amount sold as pif, paid in full in a way.  The way is they are agreeing not to sue you for the difference of the full amount you signed to pay back on the mortgage.  So,,,,,,,a short sale is a great thing to get- if you can get if- you won't get sued for the difference of the amount the home sells for, and the amount you agreed to pay on the mortgage- a great deal for you!!!!!!!

Answer 4

I have read in some cases the lender cuts the commision way back because they are not getting what is owed them on the mortgage.If it looks impossible and the seller does not want to pay for any inspections or repairs don`t offer to pay for them because you may get stuck with the bill and no sale.Your commision must be approved by the lender.