When does a short sale negotiator get paid? If the bank rejects the offer, does the negotiator get paid? We have an agent requesting payment up-front

Asked by Oakspi, Brea, CA Sat Aug 24, 2013

Not payment thru escrow from the buyer.

Barry at oakspi@sbcglobal.net

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JR Thrasher, Agent, San Diego, CA
Sun Aug 25, 2013
Asking for money up front is against the law in California. The California Association of Realtors has a great FAQ page for this. I will put it in the web reference below.

J.R. Thrasher
0 votes
Rishab Jain, , Fremont, CA
Sat Aug 24, 2013
Our team does short sale negotiation, you will not have to pay anything at all. If you like to het more information contact me. We work with most major banks.

Jain Rishab
RE/MAX Active Realty.
Short Sale And Foreclosure Resource
Phone: (510) 676-4770
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Sat Aug 24, 2013
I agree with Shanna. The bank will NOT pay a negotiator. Hire a good realtor and an attorney to represent you. The bank will pay the realtor and the attorney and it won't cost you a thing.
0 votes
Shanna Rogers, Agent, Murrieta, CA
Sat Aug 24, 2013
Hi Oakspi,

Don't pay upfront. If the deal falls through, you shouldn't have to pay anything as the short sale negotiator didn't get the short sale closed. Also, everything has to be listed on the HUD-1 statement (per RESPA) so that would have to be on there too and would go through Escrow. If the agent INSISTS, walk away and find a different home and if it's your agent requesting you pay upfront fees, find a new agent.

Shanna Rogers
SR Realty
0 votes
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