July 30, 2008

Dynamics of a Short Sale

Filed under: Short Sale

Should I pay my mortgage if my house is in the process of a short sale? How much is the comission of a realtor who sold the house on a short sale?

Rick

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Hello Rick,

Should you pay your mortgage if your house is in the process of a short sale? 

I can’t answer that for you.  What I can share with you is that your lender will be more open to completing a short sale if you are not making your payments on time. 

The real estate agent’s total commission is typically 5% on a short sale with 2.5% going to the listing agent and 2.5% going to the selling agent. 

Thanks for the questions and hope this helps.

Paul

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