Q: We have located a property online. Requested and received a first tour of the listing from the Realtor that responded to our online request. She was not the listing agent. We wish to negotiate for this property headed for Short Sale. Our price point is close to the current asking price. What other fees and cost might we expect? We have never dealt with a Realtor, this would be a cash transaction and we do not know protocol. Our purchase history is direct from owner.
?M2, Knoxville, TN
A: First, retain a buyer?s agent ? perhaps the Realtor who showed you the property. Keep in mind that typically the commission for the buyer?s agent is paid by the seller (even in a short sale situation) and it ensures that your best interests are advocated. Second, fees on a short sale can vary widely so please consult with your Realtor for a better understanding of what this particular transaction will entail.
Alex Cortez is a Realtor? with Wailea Village Properties LLC dba/Island Sotheby?s in Kihei, HI.
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- We Put An Offer In On A Short Sale Eleven Months Ago, What Is Taking So Long?
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Source: http://www.realtor.com/blogs/2012/10/09/what-fees-are-associated-with-buying-a-short-sale/
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