Hi All -

I am working with WF on a shortsale and the investor is FMAC.  I just got approval yesterday, but they did not agree to pay the HOA transfer and disclosure fees (less than $500).  They also approved to pay the 2nd lienholder $5,000.  I believe that I will have approval from the 2nd lienholder soon and they are willing to take almost $2,000 less than the 1st lienholder is offering.  So, I contacted WF and asked them if I could get the 2nd to take less, could we use some of the excess funds to pay the HOA fees as my seller is unemployed and has $0 in the bank.  They came back and said typically the investor will not pay these fees - what do you guys think about that?  Should I push back or is it a hopeless cause. 

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If it's such a little cost have your buyers pay for it. Write the addendum based off of the approval. With the market being hot buyers will not back out.  Trying to go back to WF for that is hopeless. FMAC wouldn't allow a seller contribution to pay those fees anyways in a short sale so your seller has nothing to worry about. 

Servicers and investors are generally very inflexible. You can bring a buyer paying $200K over market value and they will kill the deal because their guideline says that they won't pay $300 sewer lien. A rational person wouldn't do this, but that is not what you are dealing with. You either find a way to list it under their accepted guidelines or you find another way to pay - such as POC - and even then regardless of no cost to them, you may spend weeks working out the wording on the HUD-1.

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