hi,

 

Well, in 33 years as a Realtor this has not ever occurred. I'm in middle of a Wells Fargo short sale, 1st and 2nd. The seller passed away last week, has a trust and the successor trustee is more than willing to move forward with the short sale. I have copies of the trust which I sent to my negotiator HOWEVER the negotiator just denied the short sale due to the fact she feels it needs to go through probate!! My response: "it's in a trust, no probate necessary!" She still insists it's denied. I've asked for supervisoral assistance but since all occurred on Fri I won't get any where til Monday.

 

Anyone else go through this and if so how did it get handled?

Views: 341

Reply to This

Replies to This Discussion

Wells Fargo has an "estates department" that deals with issues surrounding a dead borrower. Each statenhas different laws and you need to get an estate and or real estate attorney involved to help explain to the bank what needs to be done to clear title.

For instance: in many states the law dictates how the property will be handled. I got in touch with this department about two years ago by calling the ss department and asking for the department which deals with personal representatives of the estate.

Gael,

Was the actual NOTE taken in the name of the Trust or was the Title transferred into the Trust afterwards?

 

Best of luck,

 

Thom Colby

Broker

Newport Beach CA

Jamie is right..you need to contact a probate attorney and have them contact the bank....probate is very tricky and you don't want to do anything to violate those laws.....

hi,

 

yes, the sellers heir has contacted an attny and he has written an email directly to the negotiator this morning. We have yet to hear back. The home was in the trust prior to this loan so the trust was in force. I will keep all posted

 

thanks!!! if you have any other contacts for me it would be super!

 

 

Gael...

CORRECT its a Trust. Keep in mind that the negotiator does not practice real estate. Send her documents or articles that support the Trust circumventing probate. She will be forced to show them to a supervisor -  It works!

 

Best of Luck

 

Rick

 

btw - Thanks for stopping by my Broker's Open

RSS

Members

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************