Short sales are quite different from REOs. In the case of an REO, the bank is paying for the costs and incentives, which is why these are offered. However, in an REO, the contract is between you and the seller (the distressed homeowner), and the bank's role is to approve the sale and the sale price and terms. Unless the seller has funds to pay for closing costs and other incentives, which most do not or else they would not qualify for the short sale, there is no money available for such monetary incentives.
So for short sales, the answer is "no" there is not money available for closing costs or fee reimbursements.
Grace Morioka, SRES
Area Pro Realty
Tel (408) 426-1616
Yes you can counter their counter and ask for the same.
It maybe late in asking, you may have wanted to Mae it part of the initial offer.
In a short sale a bank has to run a Net Sheet, if there is more than 1 lender then both are affected.
It maybe a stretch now.
Let us know how it goes.
I completely agree with Grace usually on a short sale the seller has no money to cover closing costs so the bank has to pay for that, so they are very unlikely to give you anything back, but there are always exceptions to the rule I am about to close a short sale where we did get 2% for closing costs on an FHA loan so it is not impossible, but usually the answer is no.
It all depends on how good the agent is in working with the short sale negotiator, how well is the home priced, how many loans on the property, how many bids on the home,how competitive was your bid, etc.
I hope this helps,
I hope this helps!
When you counter offer (if you ask for something else other than accepting their counter, it is countering their offer) they will say yes or no.
I would not say your chances are particularly good. Better to include in original offer. However, a counter offer breaks the contract so you are free at this point to walk.