I received an offer from a LLC.. Are there any bank restrictions to sell them a short sale?
I received an offer from a LLC.. Are there any bank restrictions to sell them a short sale? or is better look for a regular buyer? the lender is Bank of America/ Select Portfolio Services.
Replies to This Discussion
-
Permalink Reply by Trong Dang on
-
Although some bank will require that you give them the Article of Incorporation to show who are the owner from the Buyer, be prepare for that.
-
Permalink Reply by wally pelaez on
-
I am working and closing my short sale listings from 2005, but a couple years ago a bank denied to accept the offer because the buyer was a company not a natural person, since this occurred ,I always request to change the offer under the owner or presidents name, but I am not sure if I am doing the rigth thing , because apparently that is not a problem any more. thank you all for your comments. greatly appreciate.
-
Permalink Reply by William F Griffin Jr on
-
The last BofA short sale I did in Equator where the buyer was a LLC BofA denied the LLC as an approved buyer and made us do an addendum replacing the LLC with the registered agent. I am doing a BofA short sale now with a LLC as buyer and so far no problem.
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons