Home Selling in Florida>Question Details

Debra B Albe…, Real Estate Pro in 34986

In negotiating a short sale, How far can a Realtor negotiate with a bank?

Asked by Debra B Albert PA, 34986 Sat Apr 24, 2010

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Not legal per new Florida law--unless they are also a licensed mortgage broker. I'm licensed as a Mortgage Broker so I can legally attempt to "negotiate" on behalf of my seller.
0 votes Thank Flag Link Sat Apr 24, 2010
Also you would need to be mortgage broker licensed to charge a negotiation fee.
0 votes Thank Flag Link Thu Jan 6, 2011
Negotiations are based on need. It determines motivation. Motivation is based on timely actions absence of complications where the buyer can pay more than any other buyer with superior terms and close in the shortest time .
Since it takes two to negotiate and a third party to agree it is at times frustrating to find that one is out of sink or reason. We realtors do our best. Sometimes our best is not good enough. You Can Lead a Horse to Water but You Can't Make Him Drink
0 votes Thank Flag Link Thu Jan 6, 2011
Hi Debbie,

Yes there are a lot of short sale "scammers" out there offering "negotiators" etc and claiming the Seller and Age ants will not have to pay the exorbitant fees of thousands of dollars. The problem is the "buyer" will have to pay it and this will make it more difficult to get the transaction done so we can get paid our commissions.

So I would recommend that you not get involved with "negotiating" with the bank. Just submit whatever the seller gives you or better yet have the seller do their own "negotiation" as far as promisory notes, etc.
0 votes Thank Flag Link Sat Apr 24, 2010
I asked because we present to the bank and talk to them, however, if there is a note to be negotiated or a tax issue, we refer the seller to an atty. and or a CPA. I do not feel that we are licensed to negotiate. Now, with that said, what is it with these short sale "trainers" that want bunches of dollars or even free to do a class to learn how to negotiate with the bank.....we can not negotiate with the bank, we are not licensed for that. Does anyone agree with this?
Debbie
0 votes Thank Flag Link Sat Apr 24, 2010
It depends on a few things. If the price listed is already
0 votes Thank Flag Link Sat Apr 24, 2010
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