Not to get too metaphysical here but this is one of those “who pays” questions I get so often.
Today, at an inspection, I apparently surprised my buyer by telling her that she would not be paying me.
However, it is paid out of the proceeds of the sale which are paid by the buyer.
Most people see that as the seller paying.
In other words, commissions and liens get paid from the proceeds of the sale. This is money that would otherwise be going to the seller. In a short sale, the seller would not be getting that anyway so he does not care how much it is or how much the late fees are. He nets zero either way.
[quote=Eugene]Either the bank will pay, or the tax will be paid by the escrow company – either way you should get a clear title without any liens.
But this is a good thing to ask your agent and, generally, to keep an eye on.[/quote]
That’s why we should always go with Escrow process – which means we should go through RE brokers who lead to correct ESCROW process which clears all this kind of issues especially in Short Sales. Last year a friend of mine used his own mind and exercised personally a sale from direct owner without any RE broker, after year completed my friend (who is buyer ) got to pay past year Property tax defaults plus extra penalties.
[quote=Eugene]Either the bank will pay, or the tax will be paid by the escrow company – either way you should get a clear title without any liens.
But this is a good thing to ask your agent and, generally, to keep an eye on.[/quote]
That’s why we should always go with Escrow process – which means we should go through RE brokers who lead to correct ESCROW process which clears all this kind of issues especially in Short Sales. Last year a friend of mine used his own mind and exercised personally a sale from direct owner without any RE broker, after year completed my friend (who is buyer ) got to pay past year Property tax defaults plus extra penalties.
[quote=Eugene]Either the bank will pay, or the tax will be paid by the escrow company – either way you should get a clear title without any liens.
But this is a good thing to ask your agent and, generally, to keep an eye on.[/quote]
That’s why we should always go with Escrow process – which means we should go through RE brokers who lead to correct ESCROW process which clears all this kind of issues especially in Short Sales. Last year a friend of mine used his own mind and exercised personally a sale from direct owner without any RE broker, after year completed my friend (who is buyer ) got to pay past year Property tax defaults plus extra penalties.
[quote=Eugene]Either the bank will pay, or the tax will be paid by the escrow company – either way you should get a clear title without any liens.
But this is a good thing to ask your agent and, generally, to keep an eye on.[/quote]
That’s why we should always go with Escrow process – which means we should go through RE brokers who lead to correct ESCROW process which clears all this kind of issues especially in Short Sales. Last year a friend of mine used his own mind and exercised personally a sale from direct owner without any RE broker, after year completed my friend (who is buyer ) got to pay past year Property tax defaults plus extra penalties.
[quote=Eugene]Either the bank will pay, or the tax will be paid by the escrow company – either way you should get a clear title without any liens.
But this is a good thing to ask your agent and, generally, to keep an eye on.[/quote]
That’s why we should always go with Escrow process – which means we should go through RE brokers who lead to correct ESCROW process which clears all this kind of issues especially in Short Sales. Last year a friend of mine used his own mind and exercised personally a sale from direct owner without any RE broker, after year completed my friend (who is buyer ) got to pay past year Property tax defaults plus extra penalties.
.
