Short Sale Administration Fee? Unpaid back taxes?

Tips and Deals Forums Buying Your Home Buying a Home in Bay Area Short Sale Administration Fee? Unpaid back taxes?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 6 years, 11 months ago.

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    Anonymous

    1) Okay, so the agent just called and told me our short sale offer price was accepted, but they refused to give us money back at closing for closing costs like we requested (not going to fly — if we don’t get that, we’ll be scraping the bottom of the barrel) AND they want us to pay an additional “short sale administration fee” — $600. *

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    This is the listing agent, and she is working with a partner agent who has more short sale experience — neither of them had ever seen anything like this before. They escalated to their manager, who also had never seen this.

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    Anybody know what this is all about or have any experience with it?

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    In the meantime, I am finding out more about it via a Google search… this is through AHMSI, and seems to be pretty unique to them (but maybe not), and often they have demanded even higher fees from the buyers… *Weak. *I hope they’re prepared to give us back at least half of the closing costs we requested, or see their deal go bye-bye…

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    2) A preliminary title report specified not too many major problems, BUT did specifically exclude back-tax issue from the title insurance, and noted that records indicate TWO missing property tax payments (a year’s worth — about $7,000). *So my question is: who has to pay that? *If it ends up falling in our lap, that’s another big old chunk we will have to be deducting from the price. *I’m not paying for someone else’s negligence.

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