Can the Seller pay concessions or incentives to buyers?
Generally foreclosing lenders typically do not allow more than 3% of the final gross purchase price to be paid by a Seller as a credit and/or concession towards the Buyer’s Closing Costs in a short sale transaction. If you are seeking credits and/or concessions exceeding 3% (while accounting for payment of the short sale negotiation fee), understand that Foreclosure Brokers LLC may be unsuccessful in obtaining such credits and/or concessions more than 3%. If you absolutely need more than 3% total in concessions and cannot close if those concessions drop below 3%, then we respectfully request you forgo making your offer on this property.
