A bit new to short sales. I have two questions.
1. On average, how long does it take to get a response from the bank?
2. How secure are the commissions?
I submitted an offer last night for the full asking price with seller(bank) to pay all closing costs. I let my clients know that when submitting an offer on a short sale, it can take weeks just to get a response. Another thing is the commission. Listing agent is offering 3% broker co-op but I'm told the lender decides what the commission split will be? Of course, I submitted the offer with the Cooperating Broker compensation form.
Edited by Cool guy (06/03/07 05:16 PM)