Your Name:
Your Email Address:
To: (Email)
Subject:
Message:
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

The Fannie Mae Addendum DOES NOT say buyer pays seller's title agent
This is a plain language addendum that one would think is not that hard to understand, especially by those who claim to be "representing" the seller.   
I have read and re-read this addendum (current version dated 10/7/14) and simply cannot find a single word that says that buyer, if they choose to use their own title agent,  will pay the seller's title agent a "coordination" fee.  Nor can I find a single word that says that the buyer cannot be charged a flat fee commission or "admin" fee on the HUD.
These two issue have arisen over the last several weeks with the same local "seller" representative and I am simply stumped as to their dogged determination to insist that these items are part of the "Fannie Mae Real Estate Purchase Addendum".   One could reasonably assume that they have read the addendum themselves, but evidently not.
Upon review of the Addendum (Fannie Mae Form 001, dated 10/7/14) as it relates specifically to the payment of closing costs and adjustments you will find on page 5, Item 10(a) the closing costs and adjustments to be paid by Purchaser and Seller are laid out very succinctly and in plain language.  There is NOTHING in ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention