hud allowed 65.00 for closing upon checking with the management company, i was told it was up to the Realtor and title company and my requested appraisal fee and homeowners insurance would be a allowed closing cost expense,but as i stated previously, we did not find out until the last moment that they did not include those fees but gave as a home warranty instead, since there offer to postpone was not an option my question was what recourse do i have,
this was a hud sale realtor did not submit allowed expenses for closing?
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Related results on this was a hud sale realtor did not submit allowed expenses for closing?
After the decline, the agents agreed to give up 1% and credit it to WF HELOC to get an approval and move on with closing.
After that agreement, a revised HUD was sent in showing the 1% credit to WF. It was yet declined again ...
This is NOT just about being pre-approved (that's a given before getting started). It also has to do with additional expenses the Carlsbad buyer might need to pay at closing because the REO lender will not (e.g., termite repairs, escrow fee , title insurance). ..... In the lower price ranges, all that is available to buyers are short sale, foreclosed,HUD,etc. They don't want to deal with all the problems that go along with them. Unfortunatly that is all they can afford. ...
If you have PMI insurance OR your mortgage is HUD, call them and get them involved ASAP! Once you are approved for the ?trial payments (usually 3), you will have to re-update your income, hardship letter, monthly expenses, etc. ..... I know that I have neighbors that are both self-employed, she a Realtor and he a plumber. They were denied because they were writing off everything and it looked like that did not have the income to support the payment. ...
you are asking for 1965 minus the cost of the warrenty (guess is around 400). Usually home owners insurance would be paid by buyer (cost is around 500). THis means that you “lost” around 1000.
To get this 1000, you will spend a lot more. I assume you got a FANTASTIC price on the home. I would forget it and go on.
The title company ONLY!! does what the contract states. It’s not up to them to question for anything on your (or the sellers) behalf. They have NO responsiblity in this case.
Your agent not have known about it. Each deal is different. When did you find out? Why didn’t you demand that it was in the contract.