ShortSalePackaging
I am a new realtor and have an appointment with they buyer andseller who apparently have approval to do the deal with Countrywide. They want me to put the deal together tomorrow as their agent and advise that thelender will pay my commission. What exactly is my role? Just the purchase and sale contract? HELP
Hi SandraEsfahani,
Depending on what kind of loan it is, Countrywide may require you to list the house for a certain amount of time before they will give the short sale their final approval. I'm not sure if there is a magic number of days, but countrywide may want to see if it will sell at what they percieve to be market price before they will allow a short.
If this is not a requirement, you would need to facilitate the transaction. It would be a good idea to be sure that countrywide is indeed going to pay your fee. Take a look at the Hud-1 that was sent in by the parties.
BAMZ