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Closing Costs Update

So...we now know why the short sale bank is saying they won't pay closing costs. Apparently, they told the listing agent from the very beginning that they would only pay closing costs if we used them as our lender. The listing agent just never provided this information. It's not in any of the documentation that we've received (which I read thoroughly before and have gone through again). The bank WILL NOT pay the closing costs so the title company is saying it will have to come out of the listing agent's commission. So...at this point our realtor is going to her broker and it's probably going to get ugly. I have no problem with this since the listing agent is the one who dropped the ball (yes, cold and heartless *** over here). DH feels a little bad but we both agree that we shouldn't have to come up with the money. Hopefully the woman owns up to her error and she/her broker agree to pay but I have a feeling it won't be that simple.

Edited: for clarity

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Re: Closing Costs Update

  • ITA agree with you. This is the listing agent's FAULT. Not cold & heartless. She fuucked up.
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  • I don't think it's heartless of you at all. The agent misrepresented her client in a contract. How they come up with the money is their problem. She'll just have to consider it an expensive lesson learned.
    "You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you." - Dale Carnegie
  • I agree, it sucks for her but it's totally her fault. I hope this doesn't stall your closing too much.
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  • Wow! She really dropped the ball on that one. I agree, you should not have to come out of pocket for any of it. If they didn't disclose that, that's their fault. 
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  • Thanks ladies. I really hope that it gets resolved quickly. Hopefully we should know more today. Fingers crossed!
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  • It was her fault, not yours - you're not being heartless.  I'd feel the same way.
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