Charging the Buyer a Fee to Process the Short Sale Listing

My broker just came to me with a question and I didn't know the answer, so I'm looking for some guidance.  We have an agent in the office who is charging the BUYER of her short sale properties a flat fee at the closing to process the short sale.  This fee is disclosed in the contract as well as the HUD.  Is this OK?  Legally speaking?  Does anyone else do anything like this?

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Yes, all the extra work is worth charging the buyer a fee!

Why not Charge the Seller,.. after all,.. it is their credit being saved and ultimately they are the ones benefitting. Then the agreement is between the Seller and the agent who are parties to a listing agreement.

I've never quite understood why the buyer should be expected to help bail the seller out by paying the processing fee.  There is a lot of extra work involved in a short sale listing but any listing agent knows what he/she is walking in to when they take the listing.  If it's too much work - then pass on the listing.  

Absolutely legal in TX... I've been doing it for 5+ years now.  It's like an origination fee that the buyer pays to be able to purchase the property at such a discount.  My processor charges 1% at closing.  It's disclosed in my listing as well. 

Thought I would also add that I do NOT use a third party service.  I trained my assistant to handle the short sales the way I would, and she gets paid at closing by the buyer.  Telling you it is the best of all worlds...

Hi Amber, We are in Idaho and I am the assistant for Helen Law.  I just sent you a friend request.  Would you mind sharing the language you use in your listing and addendum to offer if you do that as well?  My direct emial is pam@helenlaw.com  Thank you so much!  Pam

Hi Amber,

 

 I am in Georgia and would love to that language also.

 

Thank you in advance, if you feel like you can do this.

Shirley Farrington

You can email me at ambergunn1@gmail.com, and I will send you what I have. :)  Thanks!

Hi Amber

 

I would love this info as well

Hello

Amber I would Love the information also!! Thx.

This e-mail address "bounced."

sorry I didnt inlcude my email mcmrealtor@gmail.com please forward the language that you use in your contract for the buyer to pay the ss fee to my assistant. Thank you.

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