There should NEVER, EVER, be ANY cost to a buyer or seller in a short sale, period. Any mention of money I would suggest running and finding somebody legitmate. Trust me, we know this stuff!

It means that whatever the servicing company is charging to complete the short sale, the buyer will have to pay. This can range anywhere from $500 - $2500.

Hmmm, is this a service offering this home? I've seen some REO deals where they pass off all the Seller costs (tax certs, resale packet for HOA, water/sewer certs) to the buyer.

Perhaps this service/Realtor is trying to charge to negotiate the short sale and pass those charges onto the Buyer? I've never run into this with a short sale listed with a Realtor.

the question is a little vague. the buyers has to pay for what short sale package? the seller is the one performing the short sale, i have done short sales and never had the buyer pay for any "package". is this property in a HOA or Condo? who told you you needed to pay for this package?
feel free to contact me directly, if you are not working exclusively with an agent.
Dennis Strange
RE/MAX Premier
267-767-8558

K

There is no standard package for a "short sale". Nor any standard expenses associated with a short sale.
Is this information coming from a REALTOR?
Do you have a REALTOR? (If so, you should direct all these questions to that individual)

A short sale is when the proceeds from the sale are insufficient to pay off all liens (mortgages etc.) on the property.

Usually the bank is involved and has to agree to "excuse" or "write off" the loss.

The biggest problem with short sales is the difficulty getting the bank/mortgage company to make a decision.
They must first evaluate the finances of the seller to convince them they have a justified need. Then they will perform an appraisal to determine what the current market value is.

If the market value is much greater than the amount owed, they will foreclose and sell it themselves.
If the market value is near or below what is owed, they may decide to give in and take the loss.

But so far, I've never had my buyer's suffer any additional expense due to a short sale specific requirement.

If you are not working with an agent and have further questions, feel free to contact me.

Charles Allan Dick, REALTOR