CLOSED! Lynn Massachusetts Short Sales – HSBC
I am happy to report we closed another Lynn, Massachusetts short sale. Last year we seemed to have many more New Hampshire short sales, but this year we seem to have more Massachusetts short sales. I think the foreclosure process is very different in both states which as why the shift has occurred.
We submitted this file on September 24 and had approval by October 23. HSBC at the is actually a very decent servicer to work with. There are some things you would want to know if you should take on HSBC short sale….such as, HSBC will only approve a 5% commission with two different agents. Those two agents need to be from different brokerages to get the 5%. If it’s two agents from the same brokerage, HSBC will cap the commission at 4%, and YES if there is only ONE agent from ONE brokerage, you will only be receiving 3%. I have talked to a high up at HSBC and this is their approval process.
Although it’s a crummy way to do business, I do have to say HSBC is a good servicer to work with in terms of speed and efficiency.
THANK YOU to Chris Leblanc again from Keller Williams out of Beverly, and thank you to the SSM team and Grugnale Law team.