I looked at their website and didn't really see who pays them. If their fee is the difference between the short sale price and the negotiaited price the buyer pays, then, since the buyer brings the money, the buyer pays. In this instance, the seller would get bupkis.
In effect, they are doing a quick flip.
One of the methods these firms use to to be the contract buyer of the property and then "assign" the contract to a real buyer or ask the seller to amend the contract with a new buyer substituted. Most banks are wary of this because they sit there and wonder, why is a middle man being paid when we're taking a loss.
Edited by PA Roadkill (08/31/11 11:57 AM)
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Broker-Owner Thirteen Years REO Experience
GRI,CRS,CRB,e-Pro
Some days I feel like the bug, other days I feel like the windshield