If your seller has an FHA loan and needs a short sale to obtain clear title, the max the seller can contribute towards closing costs for the new buyer is 1% of the purchase price.

Normally, the seller can pay up to 6% towards closing/prepaids.

Again, be sure you know as much about the seller and their situation as possible when making an offer. It's getting tricky out there and you don't need to find out about this rule 1 week prior to closing!

Feel free to refer me to your buyers, as there won't be any surprises at my settlements when I handle your buyers.

Molly Lionberger, Prosperity Mortgage, 443-523-5599

Serving the Eastern Shore of Maryland