Foreclosure Consulting fees

Foreclosures, Short Sales, Tax Foreclosures
1

I’m a Short Sales Foreclosure Consultant in MD. I have 2 houses that need no repairs and I need to work closely with a Realtor to sell these props. What would you suggest I charge the buyer for my FC Consulting services?
The lender will probably not discount the house a lot since they are in good condition and there will be Realtors fees so I’m not sure what the buyers would be willing to pay.
I’d appreciate any advice.

Thanks,
Renee

2

ReneeR,

I am playing a devils advocate. I would take Foreclosure Consultant off your name badge. That is like a bulls eye for trouble. But as far as a fee I am working a deal right now where I am digging in around 2500 to work the file. I am also the realtor in the sellers side.

3

I agree with JR_FL - do not refer to yourself to the lenders or on the HUD as the Foreclosure Consultant. Either charge it as a Loss Mitigation Fee or simply indicate your name (company name) on Line 514 of the HUD.

I charge a flat 1500 or 1% of the sale price depending on where the net to the bank falls.

4

Ask escrow to itemize your fee as loss mitigation, negotiation fee or packaging fee on the HUD-1. Start with 1.5% and see it that flies.