The packet that Ocwen is using has an" Affidavit of Arms Length Transaction"-Exhibit D that states
"any buyer of your property must agree not to sell you home must agree not to sell the home within 90 calendar days of the date it is sold to you" The short sale buyer is required to sign this.
Does anyone knowi if this applies to all of Ocwen's short sales or only HAFA? That restriction knocks out a lot of potential buyers. These buyers canl legitimately add value to the house by performing repairs and enhancements, but do not need to take 90 days to do that.
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I just saw this also. I'm preparing a package for a listing and this house is a fixer upper, needs a good amount of work.
Buyer is not going to be cool with this 90 day clause.
Has anyone had any luck on having this removed or modified?
This is actually a new Fannie Mae thingie. Can't sell for 90 days and can;t sell for more than 120% of purchase price.
These restrictions are actually going in the deed on some deals
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