I am in the process of negotiating an offer for a buyer attempting to purchase a home involved in the HAP program for military servicemen. The buyers requested the seller to provide closing cost assistance. The seller rejected the offer stating that the HAP negotiator assigned to him told him that HAP does not pay any buyer closing expenses. I did some research and found 32 CFR 239.4 part 239 which states " HAP will reimburse the seller for limited contributions made to the buyer’s portion of closing costs, including appraisal cost and realtor fees". This seems to contradict what we have been told. Has anyone had any HAP transactions close where the seller was reimbursed by HAP for conrtibutions made to buyers closing expenses?
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Thanks Jeff. Was your transaction a "Private Sale" or "Government Acquisition" ?
Yep, several, last one was $10,200 on a 180,000 sale.