General question. I have a seller who is insisting on asking the bank for relocation assistance in their short sale, and has specified the amount they want to "cover their moving costs". I have tried to explain to the seller that some banks do not offer it at all and that they do not have to. What is advice from the group?
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Who is the investor on the loan? What type of loan was used to purchase the property? Is the property occupied by the seller? Once I have this information I'd have a better idea of what sort of relocation incentive the seller would be potentially eligible for, then I could educate the seller and set potential expectations based on this. How much money is the seller asking for? Typically 10,000 through HAFA is the most a seller will get unless if they are solicited for a special incentive for more ( You don't see this often anymore. )
Email or call me anytime at BGold@acgnow.com & 310-564-6390.
www.ishortsalenow.com
it is an FHA short sale. the Approval to Participate had $750 for the relocation incentive. The seller has said this isn't enough and wants more. Seller is in an apartment now, not actively occupying the property