I am asking about the people who serve as a go-between in the middle of the homeowner and the lender, either to negotiate a restructure or short sale on the loan (and possibly also advising generally about bankruptcy options, etc.).
Are these people paid anything up front? How much? By what means, credit card?
Is there anything on the back-end? A performance-based payment?
Just trying to understand the financial mechanics of this business. And is it a good business? I have to think it’s very competitive these days.
Are you asking how investors make money negotiating short sales? They’re the ones who are putting bids on the property so they can buy it. The short sale specialists work with an agent because the agent has to list it. The bank will have a broker price opinion from their own agent, but if it matches or they don’t think they can make money, they’ll negotiate the purchase.
You flip the property or keep it as a rental once you buy.
No, actually I mean people who put themselves out there as able to negotiate on a borrower’s behalf to restructure a loan (or at least the arrearage) or find a way to get it brought current to stop a foreclosure.
i charge a small up front fee to the seller and receive nothing from the buyer - i simply get paid to obtain info from the seller, put the ss packet together and deal with the bank. i have agents bring in the buyers if mine are not interested and collect no profit - too much trouble trying to get fees from a buyer without being an agent - so working with the seller works for me