In a short sale, as the buyer, do you have cover the closing cost or can the seller still pick those up?

Question

In a short sale, as the buyer, do you have cover the closing cost or can the seller still pick those up?

Answer 1

wotever.

bi & sell=negotiate

yu get wot yu kan

Answer 2

Dear Matthew,

              This is a negotiable issue. My experience in California indicates that lenders are overwhelmingly uncooperative, incompetent and/or clueless with respect to this procedure. Out of hundreds of proposed deals, I have seen only a few completed.

               You will likely be better off negotiating with a lender who owns the property you seek to buy. Only then do they begin appreciating the pain of time by holding onto a non-productive asset. Responses will come much faster as they will have invested more time and money into their "property"      

                 If you still want to try completing a short sale, you need a highly competent experienced realtor with a great interest to put hours into this project. Unfortunately, most naively think they just fill out the paperwork and the deal is completed. That is what the real estate business is like.

                 In fact you will be better served by an accountant, attorney or professional negotiator

experienced with dealing with largely unresponsive entities where no one normally takes personal responsibility to complete anything.

               This is more expansive and will cost you money out of pocket and be in addition to what you will pay to the realtor for the limited service of locating the property but NOT BEING RESPONSIBLE FOR ACTUALLY  PROCURING THE PROPERTY.

             Good Luck.

  

Answer 3

IN theory , the seller has zero cash.  That is one of the conditions for the bank to do the short sale.  Zero means zero so either you pay them or the bank can pay them. /