Interesting information from our NVAR General Counsel: Sometimes it is requested in a contract that the Buyers sign an addendum that they agree to pay the short sale-negotiator's fee. Many times agents buyers are told that their offer will not be presented if the buyer does not sign this short sale addendum. This scenario is potentially an ethics violation and a breach of fiduciary duty to the seller. It stifles and limits the presentation of legitimate offers. Another scenario is where buyers are told that they "must" request a credit for non-recurring closing cost (typically 3%) with the understanding the buyer will use this money to pay the short sale negotiator fee which has not been authorized by the short sale lender or the second lender. Normally the non-recurring closing cost will be shown on the HUD-1. And if the fee is paid thru escrow, it would not appear on the estimated HUD, but only on the HUD-1. Sometimes the buyer is requested to pay these fees outside of escrow. They can not unless the lender approves them...seller is not to receive any money or any other benefit from the sale. Failure to inform the lender is considered Fraud so beware! Don't be an agent, a buyer or seller who gets dragged into this. Feel free to contact me if you have any questions! 702-526-8029! Thank you, Debbie Cimino, Synergy Sotheby's International Realty

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Address: 920 Loma Bonita Pl
Agent: Deborah Cimino (14 more notes)
Agency: Synergy Sotheby's International Realty

City: Las Vegas (82 more notes)
Neighborhood: Summerlin North (18 more notes)

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Address: 920 Loma Bonita Pl
Agent: Deborah Cimino
City: Las Vegas
Neighborhood: Summerlin North