Hi Everyone :
I have a short sale listing with an offer from an agent in the same office. Indymac Bank wants $300.00 appraiser fee at the front before they take a look our short sale package. Now the problem is : Buyer neither seller nor our broker , none of them willing to pay that amount. We ( the two agents) willing to share that cost at the closing table but the bank didn't accept that exception. My deal is dying.
So watch out Indymac Bank and put that in your Realtor only remarks , collect that $300.00 with your offer. Otherwise you will get the same problem that I have right now.
Good luck with your short sale buiness in 2008.

I ran into that same situation with this bank. I went ahead and paid it in full and had the buyer's agent agree to split the fee with me. I then had the title company show it on the HUD-1 statement as a disbursement back to me from the other agents commission check. That way I didn't have to try and collect it from them after the closing.

Bev West
Greeley, CO

Indymac bank will change this policy so keep an eye out for that.

If they try to make you pay the fee make the seller pay it. Tell them this

Mr. Seller If 300 dollars could make this problem go away is there anyone you can borrow the money from, anything you can sell, or anywhere we can turn. Mr. Seller I would hate for you to have to deal with this foreclosure and the after effects because you could not come up with 300 dollars. Mr. Seller will you please think about any alternatives you may have so we can make this problem go away.

A lot of time the Sellers have the money and will pay it. If they are super tight on there money, do not get them to pay the 300 if you do not believe the deal will close.

I wish you guys great success in 2008

Coach Dan Grieb