Southwest Florida Title Insurance & Real Estate Blog -

Money

This is the 7th tip of “10 Questions You Should Ask About Florida Short Sales” eBook, which is available as a FREE download.

FL Short sale lenders sometimes require cash contributions from short sellers in exchange for the lender’s agreement to approve the sale. The amount of cash demanded varies considerably and, as with Promissory Note requirements, depends very much on the FL short seller’s ability to make that sort of contribution and the amount of the loss the lender is absorbing.10 Questions You Should Ask About Florida Short Sales

We have seen as little as $250 and as much as $75,000. These amounts are ordinarily negotiable to the extent that the lender will negotiate.

Much like with Promissory Note requests, demands for cash contributions are more common when mortgage insurance is involved. If your loan has mortgage insurance, you should prepare to deal with this type of request.

If you would like to learn more about FL short sales and don’t feel like waiting for the next post, simply click the eBook icon on the right and download your FREE copy today!

If you have additional questions, please feel free to contact us online or call us at 239-985-4142.

-Chris

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.