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Old 11-09-2011, 04:29 AM
 
3 posts, read 6,338 times
Reputation: 10

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A short sale, I offer 100,000, and buyer contribution $5000. In Settlement Statement (HUD-1), after seller pay his closing cost that will pay 10,2000 to bank.(504. Payoff of first mortgage loan 10,2000)

But in APPROVAL LETTER, The required payoff is 100,000. There is $2000 higher than bank asked pay off in Approval Letter.

Can I have the right get the $2000 back to me or at least I can ask bank pay my closing fee?

Thanks.
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Old 11-09-2011, 07:15 AM
 
Location: Acworth
1,352 posts, read 4,375,626 times
Reputation: 476
no

closing fee is negotiated during sales. Once you close, gravy goes to lender(s) and whoever owns the deed
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Old 11-09-2011, 07:18 AM
 
Location: Inman Park (Atlanta, GA)
21,870 posts, read 15,088,914 times
Reputation: 14327
City is correct. Closing costs are use it or lose it.
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