| Often banks agree to a sales price when they're | | | | Yesterday, we received the HUD-1 statement and lo |
| presented with a contract, except they refuse to | | | | and behold the Taxes and HOA fee's were added to |
| honor HOA fee's or back taxes owed. There lies the | | | | the price. |
| problems which continue to arise when dealing with a | | | | Our attorney began contacting the lender as well as |
| "Short Sale". | | | | the attorney representing the seller. They went back |
| I can't tell you how many times I've attached an | | | | and forth for hours, the lenders denying the addendum. |
| addendum with our offer to the lender insuring our | | | | It seems the lender believes they never signed off to |
| offer includes Taxes and HOA fee's to be included as | | | | our addendum and refuse to honor our contract. |
| part of the sale. | | | | Short Sales are never easy, it requires a lot of |
| More times than not lenders will attempt to wiggle out | | | | additional work to complete the sale. |
| of honoring what they sign. Such was the case | | | | Having an addendum added to a contract isn't |
| yesterday. After going back and forth with a lender | | | | something the lenders are accustomed too. |
| over the of a home located in Pembroke Pines,we | | | | In the case of our contract. The HOA fee's owed are |
| finally agree on a sales price. | | | | $3500 and taxes owed are $4200. It appears the |
| Our Short Sale addendum was attached to the offer, | | | | lenders are willing to split the difference,which isn't |
| signed, acknowledged the Taxes and HOA fee's | | | | sitting well with our buyer. Our attorney feels the |
| were to be incorporated into the price. The lender | | | | contract will never close unless the buyer agrees. |
| signed off, our offer was fully executed. | | | | Lenders don't have to play by our rules.... |