Seller Incentives on Short Sales


#1

Which lenders are giving sellers $$$ to complete a short sale?. ?A quick response with recent lenders and amounts would be greatly appreciated!


#2

? ? ?If the bank doesn’t want to allow the seller to get $, structure the deal so that the buyer is paying X dollars for personal items at the close. ?This normally would need to be done separate from the main offer/acceptance.

? ? ?There are some banks (like B of A) that often have the chutzpah to ask seller to throw dollars into the pot. ?

? ? IMHO - a homeowner is better off staying the months (sometimes years) rent free until the lender decides to foreclose. ?That’s worth more than a few $ for a short sale. ?The now former owner will almost certainly get Kash for keys. ? Of course this won’t get the prospective short sale broker the chance to get a commission if/when the bank decides to take a short sale offer 4 to 8 months down the line.


#3

Possibilities could be…

HAFA> $2-$3K

B of A> $5- $8K

But all situations are different, i’ve heard more and less. Basically Miket says it right. ?