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IL – The Stop foreclosure Institute recently received a question from Steve about short sales. Here was Steve’s Question.

“I am interested in a short sale. I just have a few questions about how the process works. Does my lender set the price for the property. And, will that price include the realtor fee? Sincerely, Steve.”

Get my Free, Step By Step Loan Modification Guide by clicking here.

Here was our answer. Steve, in most cases the lender will not set the asking price for your home. In most cases, the lender does not get involved until after we have an offer from a buyer.

The only exception is if you have an FHA loan. FHA’s short sale guidelines stipulate that an appraisal be done after the home is put on the market. They required the asking price be changed to the appraised value.

As far as your second question, does that price include the realtor fee? FHA Short Sale Guidelines require the lender to pay your realtor a commission. You don’t have to pay it.

On other short sales, the lender usually pays the realtor’s fee. They know that they will have to pay a realtor when they sell a home after foreclosure. Why not avoid the foreclosure and sell the home now?

That is the logic behind why they pay the realtor’s commission on a short sale.

Thinking about a loan modification?Our loan modification kit will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send me an e-mail at evelyn4homes@aol.com to request a Free Copy.

Or, click here to request a copy.

Thinking about a short sale? I can help you short sale your property so you can move on with your life. Send me an e-mail at evelyn4homes@aol.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 630-896-9999

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Evelyn Santiago.

Evelyn is a Real Estate Broker at Dynamic Real Estate Network, Inc. . Short Sales Realtor:

Phone: 630-896-9999. evelyn4homes@aol.com.

View My homes for sale at www.dynamicbroker.com.

Evelyn Santiago specializes in loan modification assistance and short sales in Aurora Illinois. Oswego Loan Modification Help, Oswego Short Sales. Oswego Short Sale Realtor. Montgomery Loan Modification Help, Montgomery Short Sales, Montgomery Short Sale Realtor. Yorkville Loan Modification Help, Yorkville Short Sales, Yorkville Short Sale Realtor. IL Short Sales. Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Evelyn Santiago, Dynamic Real Estate Network, Inc. , and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Evelyn Santiago’s personal views and do not reflect the views of Dynamic Real Estate Network, Inc. .

This information on Short Sales: Will My Lender Set The Price For My Home? is provided as a courtesy to our viewers to help them make informed decisions.

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