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If I hire a Realtor to do a short sale, who will pay the Realtor of her commission? pls. reply.

sweeney · Posted: Mon Aug 11, 2008 6:32 pm Post subject:

Typically, in that scenario, the realtor's fee is paid by the bank (the seller). It's taken out of the gross sales price the bank receives. For example, on a 200k house that has a mortgage of 210k, the sales price is 200k less the realtor fees less other costs (ie attorney fees) equals the net to the bank, let's say 170. The apply that towards the loan balance of 210 and take the difference as a loss. Ouch.

Make sure title work is done so you get clear title ( this is usually the case on short sales anyway but be sure.) Good luck!

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If I hire a realtor to do a short sale, who will pay the rea