RESPA changes and what it means for sellers in Short Sales

Under RESPA laws in the state of UT a seller is required now to bring proof of final payment on utilities and HOA costs. MOST banks won’t pay utilities for the seller and SOME won’t pay HOA. If they do pay the HOA they may not pay late or legal fees. The buyer may be uncooperative in bringing these current. A seller needs to try to keep these paid and operating during the process, if they can’t thy need to tell their agent so that disclosure and property care can be established.