Yes they do need proof of funds to make ure you can close. I am surorised the liting agent did not require that before submission.
Be aware, as a participant in the short sale process, you have elected to play on the team that loses 70% of the time. It is possible, after you have jumped through every hoop, provided every document the 5th time, and packed or repacked your possessions. you can still lose, on the whim of the owner or bank or loss mitigation department. ANYTHING can does and will happen in a short sale. You DON"T have a deal until you have the keys in your hand.
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4042 - http://www.RealEstateMadeEZ.us
The lender has a process to approve short sales. Part of it is the amount of closing costs that the bank will agree to. The reason that they sometimes seem so rigid is because the same rules have to apply to everyone.If your short sale negotiator tried to put the fee on the sellers side, they were stupid and should have known that it would bite them in the ass. The only safe way for a negotiator to get paid is on the buyers side.
Since you have agreed to pay the fee, then move on. Give them proof of funds so that you can close the deal. It takes you less than a minute. Short sales are just plain cumbersome. I have one lenders rep telling me how to word a line on the settlement sheet and then it is sent back because his boss didn't like the wording!!!!Half of the time it is dumb stuff. The rigidity of the whole process gets frustrating, but once you realize that you have to play ball to get the house....play ball.
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
You are most likely getting a good deal. If you want the house, play ball.