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kellamtom
633 Posts |
 Posted - 06/04/2008 : 10:27:31 AM
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For some reason seller will not change the financing terms from conventional to allow fha financing. buyer is purchasing an reo and ocwen is not changing the contract. do they realize that if they want to sell this property it's either fha or a cash buyer, i have an approved/elligible with fha and this guy wants this house. what would you reccomend, do you think that the listing agent if lazy or what
are there additional fees to the seller for an fha loan vs conventional financing |
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joeyostjr
181 Posts |
Posted - 06/04/2008 : 10:29:33 AM
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| no additional fees. I think you have a lazy realtor who may think there is additional fees. How far into escrow are you? |
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renash
60 Posts |
Posted - 06/04/2008 : 10:29:54 AM
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| What state? |
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kalee3415
193 Posts |
Posted - 06/04/2008 : 10:31:44 AM
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Only fee is the tax service fee and it runs 65-80. You can eat that if needed. I would say it is more likely they got a higher offer and are looking for a way out OR they have reason to believe that the property can't fly FHA. Although I can't imagine they are using that much foresight. There is probably a better offer.
quote:
Originally posted by kellamtom
For some reason seller will not change the financing terms from conventional to allow fha financing. buyer is purchasing an reo and ocwen is not changing the contract. do they realize that if they want to sell this property it's either fha or a cash buyer, i have an approved/elligible with fha and this guy wants this house. what would you reccomend, do you think that the listing agent if lazy or what
are there additional fees to the seller for an fha loan vs conventional financing
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kellamtom
633 Posts |
Posted - 06/04/2008 : 10:31:59 AM
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| they just accepted the contract, but before prop would qualify for fha aprox 1k in repairs must be completed, offered to increase the sales price and req seller make the repairs they will do this but won't allow conventional financing why not? |
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SoCalRay
2698 Posts |
Posted - 06/04/2008 : 10:32:15 AM
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Another realtor that refuses to accept they do not know everything.
My Mantra is have been doing this for over 12 years and I do not know verything and I doubt I ever will |
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kellamtom
633 Posts |
Posted - 06/04/2008 : 10:33:18 AM
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| texas |
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Ging
154 Posts |
Posted - 06/04/2008 : 10:34:21 AM
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| 203k streamline- no brainer up to 15k without 3rd party verification of work completed and its closed or as high as 35k with verif. |
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kellamtom
633 Posts |
Posted - 06/04/2008 : 10:36:22 AM
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| yeah i ran it as a 203k with universal mortg corp, but the realtor is telling me that the seller is not allowing fha financing can they do this |
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Clr2close
330 Posts |
Posted - 06/04/2008 : 10:36:39 AM
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| Kellamtom if borrower can fix the 1k repairs i can help you with this loan please email me at Dlaylock@idealmb.com |
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