Please note, cash contributions and/or the amount and terms of the promissory note are negotiable. If you fee that the amount they are asking you to pay will create another hardship for you, then substantiate your statement and suggest a different amount. The agent who has helped you negotiate the short sale may be able to assist with that as well. Hope this helps. Feel free to contact me for more details if necessary.
Solutions for Real Estate
ABR Accredited Buyer Representative
FIS Foreclosure Intervention Specialist
HUD Registered Bidding Agent
No this is not normal... we do a lot of short sales and have been able to keep any of our sellers from having to do this. Now, does it happen, yes... Again negotiate it down as low as possible and work for a zero int. if you have to do it...
Remember, they loss mitigation person is usually working on comission... this could just be a "game" to see if they can get it from you... I would not risk the deal over it but might try to "call their bluff" Are you working with an agent? If you cant avoid it... then sign it, after all you do owe the money...
CERTIFIED Foreclosure Expert
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