Banks have been offering incentives over the past year or so, and many of my clients have received cash back at closing to short sale their home. But this is the largest I have seen yet in the Indianapolis area. Chase is giving my client $20k + the $3k HAFA relocation assistance. So a total of $23k from Chase to short sale the home. This is a $90k home!
Last month, Bank of America offered another of my clients $9k to short sale their $100k, which they received at closing as a cashiers check handed over directly to seller.
This doesn’t happen all the time, but just another example of why it’s better to short sale a home then let it go into foreclosure!