Expect to be asked to pay fees and charges that are not traditionally paid by the buyer.  You wanted a steal.  You are getting the house below market value.  Cough up the cash if it means saving the deal. 

Case in point:  5518 Whitehead St in The Harborage.  Original owner paid $366,000 in 2005.  My buyer closed on a steal via Short Sale this week for $190,000. At the last minute Bank of America changed the terms.  The seller had to pick up additional closing costs.  The buyer had to pick up the Seller’s $2500 in unpaid HOA dues and fines from earlier in the year. 

The buyer would normally balk at the thought of paying someone else’s HOA fees and fines, but the pursuit of the deal outweighs the way things should be.  The buyer paid the fees and took the steal.

Sarasota attorney Anne Weintraub, partner at Syprett Meshad, says the buyer is asked to pay non-traditional fees in about 35% of Short Sale deals, and that number is growing as banks look for ways to reduce their losses.  Expect the unexpected and accept it even if you don’t think it is right.  The deal is more important than paying just what you are normally expected to pay.