I believe per FHA guidelines, that is what the maximum closing costs you can ask from the seller. Asking that high of a closing cost can be very challenging now a days since the inventory is low and the demand is high. The competition is very tough.
Ask her if what is the 6% your Realtor is talking about.
Jim, I agree with your assessment that few short sales go through. In fact, I caution buyers not to buy a short sale, and I give them 11 good reasons why buying a short sale is no bargain. However, for a variety of reasons, many buyers still want to pursue them, regardless of good advice such as you have offered.
And, I can say that except for one short sale seller last year, all of mine have closed -- whether I was representing the seller or the buyer. Two of my closings this week are short sales. It's not so much luck that makes it happen. It's choosing which sellers to represent and which properties buyers should pursue. I don't take on every short-sale seller who calls me, and I try to guide buyers to select the right transactions. But I am with you 100% on buying short sales overall. The bulk of them are not worth the effort expended.... more