I am selling a house on Long Island New York. It is a short sale through a real estate. My question is, if it sells and goes to closing, who is at the closng? Is it the real estate broker? The owners of the house? The mortgage company? I am confused. Who gets what checks for the sale of the house?
Answer
Apparently you are doing this without a lawyer. Bad move. Your broker should be advising you. If it is under water, you get nothing, lender gets all,less broker commission. Is lender waiving any deficiency you will owe?
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