May 1, 2008

Lender is confused with short sale

We received an email from a lender who is responding to a request for a short sale. The lender outlined how much they would accept from the home owner and in the email they added,

"We do not pay X% commission, we pay Z% commission."

Uh, excuse me Mr. Lender but technically you are not paying any commission. You and I do not have a listing agreement.

Yes, I know the opinion is if you as the lender are going to take less then everyone should take less. I can accept that. I'm just a little confused as to why you do not just concern yourself with the amount you are willing to settle for and leave my income alone?

It seems to me that your agreeing to a short sale must be the best financial solution for you or you would just foreclose? So why is it you are willing to benefit from our work of marketing and finding a ready willing and able buyer that helps not only our seller but obviously you as well, and yet you want to cut our pay?

Just so you know, we will work with our seller and do what we need to do with our commission if it helps the seller get out of a bad situation. I would just like it if you let us make that call.


Related Florida real estate views:

Appraisals + short sales = no sale

Should you buy a home in "as is" condition?

Lender says no to deed in lieu


- Greg Staker - Watson Realty Corp. - 407-304-0255

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