Hafa Relocation Assistant

I am working a hafa approved short sale.  My negotiator stated that the relocation assistance had to come out of the net and that it was considered a closing cost.  I never heard of that.  Does anyone here know?

Views: 532

Replies to This Discussion

Permalink Reply by Joan Vaca on August 20, 2012 at 10:14am

The 9% cap is definetly a problem!  The 3% is not enough.  We had to cut most of the closing costs just to make this work.  Live and learn!   Thanks Ute.  I appreciate your feedback.

 

Permalink Reply by TOP END Properties on October 9, 2012 at 5:31pm

I think what they mean is how it is displayed on the HUD1.  It should be on line 506: "Relocation Assistance to ___ ___".  The bottom of the HUD should be $0 to/from seller.

The deductions on the HUD1 should only be:

- Agent Commission: 6%

- Attorney Fee: $1500

- 2nd Lien Payoff: ??

- Relocation Assistance: $3000

- Conveyance Taxes  (note: In CT their is no conveyance tax for Short Sales.)

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************