I had read web site after web site about how this fee is extremely unfair to be placed on the buyer.
We love the home, this transaction just feels unfair.
thanks for everybody's help though :)
Robin Weisgerber, Licensed OR Realtor
I am glad I came on Trulia because I think everybody is in agreement that it's pretty typical with short sales to have the buyer pay for it.
I think we love the home enough that we don't mind paying it. My other problem is our realtors stinky attitude when I questioned paying the fee (and really she hasn't had our best interest in mind while looking at home and trying to keep in our budget) It makes us not want to have her as our agent :(
However, you definitely should make sure the home fits at least 85% of what you are looking for and you should like the home. There is no perfect home that meets 100% of what you want, but, if you feel the price you are paying plus the cost of the fee combined is more than the house is worth to you, then you should reconsider. Good luck! I would love to know what you decide to do with the house. :)
I had also heard from quite a few people that the negotiator usually gets 1% of the 6% commission as his payment?
If you are not totally in love with the home and aren't willing to pay the fee than I would find another home to buy.
Make sure that when you are looking that you let your Realtor know that you aren't willing to pay the fee in the future and he or she will make sure to ask the lisitng Realtor if these costs would be involved before you submit an offer.
Best of Luck in your home search.
As for a grace period on a short sale - until you have approval in writing from the seller's bank(s) that's acceptable to you, you have the right to withdraw your offer at any time. So - sounds like your Realtor is giving you correct info about the fee. If you have any other questions - we'd be happy to help. We run a ton of short sale listings at all times - however I have my own negotiator that works for me.
Best of luck!
Kelly Gebler, Principal Broker/Owner
Cornerstone Group NW @ Keller Williams Realty