If the approval letter shows nothing to the 2nd, I'd agree that it seems they may never have had a release to the 2nd on the est HUD. I'd resubmit for an updated est HUD with a release to the 2nd. I feel that it'd go smoother than dropping the purchase price.
Thanks Brett, my guess was the prelim HUD didn't ask for a contribution to the second, like they forgot it. Also, we just now get the actual demand from the 2nd, 30 days after the approval letter from the first?And, credits in the approval letter, that weren't in the purchase contract?
It seems there is a disconnect between the prelim HUD and senior approval letter. I'd go by the letter, asking why something was hand-written in (odd). If your buyer didn't want a credit, apply to net. The net is the key to all.
Yes Wendy, that's generally my thought. But right now the HUD shows a net of $6,000 above the required net, and they can't pay the 2nd anything? The Buyer concession and repair credit in the approval letter concerned me, since I've never gotten something paid for that I didn't have an addendum or some back up for. I know some other negotiators "magically" get 3% buyer concessions that were never in the purchase agreement, which get reverted to their fee.
If the trustee is surrendering the property why would they appoint a new agent ?