I am processing a short sale through Chase and they have informed me that they want me to remove my $350 short sale processing fee that was disclosed on the MLS listing, agreed to in writing on the PA as well as a short sale addendum to PA. I told the negotiator that since this was fully disclosed, agreed to by all parties on the PA and a separate addendum, that I felt they didn't haven't a right to ask me to remove it, since it wasn't being paid by the seller, nor did it affect their net. They told me that they do have a right and if I didn't take it off the preliminary HUD and send them an addendum removing this fee that they would deny the short sale.
Has anyone run into this?
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no processing fees allowed. technically its only not allowed on sell side but every once in awhile they reject no matter what. Wells is famous for this
Joe Alfe
Short Sale Processors Inc