Generally, all closing costs from the sellers end are covered by the banks proceeds. If there are additional expenses that the bank will not cover, it will be the responsibility of the buyer. If the buyer will not cover them, I can assure you that you will find a buyer who will.
It is assumed that the seller in a short sale is in financial distress and they are not expected to pay anything at closing. YOu must look into the HAFA short sale program as you may be eligible for up to $3,000 in moving assistance from this government program, learn about it here: http://www.shortsalespeople.com/portfolio_2/how-the-hafa-short-sale-program-can-help-you
In our market, sellers also pay 1% of sales tax, and preparing the deed.Other costs include overnight charges, office fees , and home warranties. I tell sellers to expect 8-10 % of the sales price.... more
Quite honestly, it's really going to depend on the type of seller. Meaning is it a real person or a corporation, or is it a seller who has to answer to a corporation. Typically in a seller's market (of which we aren't in it would be 50/50 split for escrow and title in Mo. Co. However, there are short sale and bank owned properties where the corporation or bank has to decide if it's in their best interest to pay 50/50 or 100% of the escrow and title fees, it all depends on where the property is located, what price it's selling for as well as how long its' been on the market.. Many factors are involved. A good REALTOR with their pulse on the market can help you. Like me. I'm local and am happy to answer any questions. If you like please visit my website for more information. www.bay2bayhomes.com... more