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What did you contract for in the purchase agreement? Is such fee in there? In there an addendum where you agree to pay such fee? Or, have you signed an agreement with the party to whom you are considering paying this fee?
This is about what in the agreements, I think.
Sounds like someone may have agreed to make this payment, and now is trying to get you to pay so they don't have to.
The fee should have been disclosed somewhere. If it wasn't, there is an issue. I agree with Michael, check your P&S, addendums, riders, and any other paperwork you signed. If the agent is saying it's towards your "final payment" then find out what the final payment is for. Ask for an invoice, or receipt for the deposit so you know exactly what it went towards.
Gabe, you are responsible for paying $1800 for the short sale processing. It sounds like the $1000 is your escrow deposit and not part of the $1800.
While your agent should have verbally explained this to you, you signed the agreement stating that you would pay the short sale processing fee. If you want the home, $1800 should not stop you.
I agree with Jeff. It likely could have been explained a bit better, but you need to read what you are signing. $1800 is a small price to pay if you get the house you want. Keep in mind lenders tend to counter offer much higher than that.
Yes it is a typical thing, but most do a better job explaining it. Negotiators charge several different ways.
Gabe, are you sure that it went to the processing fee? Did you deposit escrow money? Your agent should be able to explain this a little better to you. Did you sign something that says you pay the processing fee up front or at time of closing?
It sounds like you were definately misled. Who is doing the negotiations? Who did you make the check out to? You may check to see if it is legal to take an upfront fee in your state.
Gabe, call your agent and ask him for the breakdown of where the $3000 went? If it was all for the down payment and you have it in writing, then there shouldn't be an issue. It's up to the agent to rectify. I think you just need to clarify things. It doesn't seem like your agent is purposely trying to mislead you. You signed an agreement that you would pay the $1800 so that is your responsibility to pay if and when it gets to closing. My gut says none of that fee should have been paid until closing but I don't know exactly what you signed. Agents, and lawyers I believe can be paid up front without interfering with MARS guidelines. The rest need to wait until closing.
Good advice Smitty!
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