Seller Assistance

How much seller assistance can a buyer receive in a PFS?

Ive heard a max of 3% - Ive also heard that if the buyer is using an FHA loan it can only be 1% or $1000 (which ever is more).

Please advise.

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Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on February 24, 2012 at 7:21am

The 1% for an FHA PFS is just a 'Guideline'.

Permalink Reply by Kevin - Greenville, SC on February 24, 2012 at 7:22am

I would make sure the required net is still met though and keep it 3% or under. HUD will have to approve a Variance.

Permalink Reply by Jason Sanseverino on February 24, 2012 at 7:26am

Thanks Kevin-

The lender has been dificult to work with (Everhome). I sent the shortsale package to them a month ago - they refuse to order an appraisal and initiate the PFS program. How do I push them to get moving?

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