Talk about a weird day this past week.  I am confident we will get it worked out ---- somehow.  Maybe it is just us, but every time we have had a transaction with an Asset Link REO, strange things happen or just nothing happens for days.  YET they want it NOW and they want it ALL.

Here is the story, closed escrow this past week on a lovely home for a lovely buyer.  It is an Asset Link REO which is handled thousands of miles away from us to begin with.  10 days after loan docs were signed and we kept bugging the title company (who was great!), the title company continued to press for the seller hud to be signed. seller did sign a estimated HUD with all conditions as per the contract etc, etc. We finally record, FINALLY.

My partner calls me with a perplexed (to say it nicely) voice message and said the title company called her and said the AM comes back after it recorded and told title there was an addendum to reduce the closing cost credit from x to x (difference of $3000).  Seller signed an estimated HUD, which we were told is customary and then the final HUD gets done.  The estimated had exactly what was signed and contracted for.  And of course the final HUD matched the estimated HUD.  NOW they pitch a fit?

Okkkkkkk what kind of addendum do THEY have since we are in Calif and use the CAR for changes in contracts after we have all ratified seller addendums etc, etc.  Of course we have no addendum what ever it looks like, not signed by our buyer, no emails about a change, title has nothing, and how about this the listing agent knows nothing either!!!! 

First time for anything in the REO world.  As an REO listing agent and in this case representing the buyer, this kind of conduct totally blows me away.  I am sure it will work out, but what is this asset company doing???  and yes it is holding up any payment of any kind.  Given the plummeting of our market, selling a $300K house is a nice thing to accomplish.  Good thing I do not spend my money before getting it!!