Comment

Comment by Maria Mastrolonardo on June 30, 2010 at 11:26am

Becky, the same happened on my deal with AHMSI that just closed. The buyers did not want to pay the 1%, but eventually understood that they would potentially lose more than 1% if they didn't close. All in all I thought that AHMSI was pretty easy to work with and AHMSI didn't have a problem with paying off the second.

Comment by Ellen Muzzio on May 25, 2010 at 1:48pm

We see it all the time, but it's capped at $5,000 (so if you have a deal over $500,000 it won't go over that). We did have it waived on ONE deal but we usually negotiate with the buyer up front to pay this fee as we've seen it on a dozen deals with them. On a recent deal with another lender, they also asked for 1%.

Comment by Cheri Smith on April 28, 2010 at 2:23pm

Becky, I haven't personally but another agent in my office has and she said they could not get it removed. I believe if the buyer is getting an FHA loan (maybe even USDA or VA) that AHMSI can't charge the fee. She attempted to increase the purchase price rather than have the buyer pay the fee but AHMSI wouldn't allow it.

Comment by Becky Flowers on April 28, 2010 at 1:01pm

I am currently dealing with AHMSI, I have a "verbal" approval but they are stating they will be charging the buyer 1% Short Sale Admin fee? In five years of Short Sales this is first time I have seen a bank charge an admin fee to a buyer, if buyer doesn't pay then, commission would be reduced. Anyone else have this experience?

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