"They add the buyer's premium to the high bidders price and that becomes the total purchase price the buyer is buying it at. The fee actually ends up showing as a seller closing costs on the settlement statement. So financed…"
"I've not dealt with Suntrust in quite some time and so far they still suck. I cannot get any return phone calls or anyone on the phone to even confirm authorization is on file. So far the escalation contacts listed here are not…"
"There is what the guidelines read and what happens in the real world. I have seen firsts let the seller contribute the second. I have also seen first appove under HAFA when the second did not give a full release. Whether they…"
"The answers is..It is completely up to the investor. Everything related to determining the value and/or min net allowed is up to the investor. I had one with Chase earlier this year that the investor denied the offer and refused to allow…"
"Do you attend the BPO appointment and supply the BPO agent with all of the information you just mentioned?
Do make sure the property was marketed and the price lowered at least a couple times before an offer comes in to show what the house has not…"
"I agree with Michael completely. I never recommend applying for HAFA until there is an offer for the exact reason mentioned. The only time we do it is if not doing so would result in the seller being disqualified from HAFA."
"That's kind of a loaded question. It all depends on the servicer. In you case that is BAC and your in for a long wait. If the seller pre-applied for HAFA with BAC it is likely their file was outsourced to AMS…"
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