Short Sale Question?
Hi All, The lender I am dealing with requires a listing agreement which I understand is customary. How do I go about finding a realtor that will take care of this. What typically will be their fee? I already have the owner's complete co-operation on this transaction but, he has vacated the property & lives 5 hrs. away now & I live 11 hrs. away (out of state). When he looked into putting it up for sale, he had no equity & it was going to cost him $10K to sell (after fees, etc.). Thanks to anyone that can help..... Steve
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Before you spend any serious time on this, find out if the mortgage loan in question is FHA insured, and if there are any junior liens. An FHA preforeclosure/short sale requirement includes that the premises be owner occupied. No sense seeking a short if he has vacated the premises. It's possible, but problematic.
I can help you with a (local to the premises) real estate broker who can provide the necessary listing and sale documents, access, and local closing cost data (for your estimated HUD 1).
Email me privately.
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