CG in VIrginia said: “HSBC has now created the icing on the cake. My friend is a realtor and she has been working on a short sale for a client to keep the house out of foreclosure. After 6 months of trying to find a buyer, they got a contract $20,000 higher than any other offers that had started dribbling in.
HSBC finally got around to approving it (that is another story) but then CUT the realtors commission 1% below the listing agreement! She told them that the buyer’s agent would withdraw the contract and they didn’t care! They said they would just close it out before they would pay the regular commission! AMAZING!
Instead, they are now looking at a backup offer $20,000 LESS than the one submitted because they wanted to screw the realtors out of their full commission…They are going to either end of taking $20,000 less or have the home go into foreclosure because they didn’t want to pay $1,700 more in commission!
WHO IS DOING THEIR THINKING! Now the homeowner is probably going to go into foreclosure because of the idiots making decisions in the short sale/loss mitigation department!!!”
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