Due to the volume of military clients we work with, I have elected to offer a military appreciation rebate ccompetitive to USAA's programs. Recently, we are under contract with a dear couple buying a house from us sight unseen ... The husband has been in Iraq and the wife is in CA . The Buyer's mother went house-hunting with me, and we found a great place for them ... buyer's are thrilled.
Almost closing time and it's a mailout. Title sent the package before we even had the HUD --- WRONG!!! On the contract we had asked for $6,000 in Seller paid closing costs and prepaids, plus the military appreciation credit of $1,100. The HUD reflected that only $4,500 was debited from the Seller's side yet the closer had used the full amount of my military appreciation towards additional closing costs and prepaids. The bottom line ... MY CONTRIBUTION WOULD HAVE SAVED THE SELLER MONEY BUT NOT THE BUYER. When I expressed that this was unacceptable, my lender double-timed it to find a way to apply a full credit to the buyer and use all the Seller's concessions too. The END RESULT: THE SELLER CREDIT OF $6,000 WAS USED IN IT'S FULL AMOUNT, AND THE CREDIT APPLIED FROM US WENT TOWARDS DEBT REDUCTION FOR THE SELLER - VA WILL ALLOW THIS. TODAY, OUR SELLER HAS A REDUCED CREDIT CARD DEBT AND THEY ARE GETTING ETHICALLY THE FULL AMOUNT DUE TO THEM, PLUS CLOSING ON A GORGEOUS HOME. Yeah. I can breathe!
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