1. You don't pay for it. The bank pays the real estate commission, and I have never had them say they were not willing to pay something.
2. How many short sales have you navigated before? I do a lot of them and every time I learn something new because it's an evolving area of real estate.
3. Its just not that simple. Let someone who knows what they are doing help you. You'll have a higher chance at being successful. As it is, there is nothing easy about them.
Best of luck to you!
I can help you do this on your "own" without an agent. There is no "short" answer, as previously mentioned, short-sales are anything BUT short on details. You need some key players; a title company (preferably one that is underwritten by attorneys) <--- (paid big money for that info alone), obviously the lending co. that holds the deed/title of the property is who you will be negotiating with, a real estate attorney and someone to assist you with the negotiating. (This I can provide).
You can contact me at:
firstname.lastname@example.org for more info and help.
Looking forward to hearing from you,
I hope this information helps! Best Wishes!
The questions you must ask yourself... is if you have to ask this question, there are two things to consider:
1- Do you have the time to research and understand how to do a short sale.
2- Can you afford to lose this property after many weeks of work over a misstep on your part.
On the whole short sales are difficult at best and you need someone who can navigate the ever changing process of short sale negotiations.
Why in the world would you want to do that??? There are agents like myself who have undergone extensive training for short sales, and have a lot of experience and impressive track records in working them. Considering that the bank most often pays the commission in a short sale, why would you want to even attempt it??
I also highly suggest that you work with a Realtor that has experience in negotiating this type of transaction with the bank and/or use a real estate attorney. I hope this information helps! Best Wishes!