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Will I Have to Pay to Short Sell My Home?

Sep 11, 2012
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ALL fees, and costs, including commissions, back taxes, title and closing fees, will virtually always be paid by your bank. They REALLY want you to avoid foreclosure!  There are times when a bank will ask for a cash contribution from the seller.  The most common times that we see this is with small local banks (or credit unions), on investment properties, or homes that had a second mortgage taken out AFTER the home was bought.  Even if the bank asks for a cash contribution we have been successful getting them to wave this requirement about 50% of the time.

Additionally there are times that the bank will not pay HOA dues, and late payments on utilities.  If this happens we ask the buyers to pay these fees.  It is a goo didea to keep HOA fees, and utility bills current.

Remember, lenders approve Short Sales and accept the resulting loss in an effort to avoid bigger losses through foreclosure.  If a short sale is right for you, it is important to work with an agent who knows how to negotiate with banks and is not new to the process.

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