Asked by Astrby, Pasadena, CA • Tue Dec 22, 2009
We made a $480k short sale offer that was recently accepted. The bank letter states as one of its conditions is that (a) it receives a minimum of $433k from the sale (to cover the 1st & 2nd Lien); and (b) the agent commission is capped at $29k. This totals $462k. By my read, this leaves $18k to cover various taxes and transfer fees. Is it safe to assume this won't eat up the whole $18k and that they might be willing to pay for the $2k worth of termite work we just discovered or the home warranty plan we asked for in our offer? In terms of who makes these decisions, since the sellers don't have anything to gain, if these requests can be covered by the remaining $18k, is it the selling realtor who will decide whether to take a hit in commission to make this work or do will (s)he take these requests to the bank?
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