"Yes, I believe PFS is the only option. I also think it has to have been owner occupied within the past 18 months.
The bad news: if the listing agent doesn't know about the program, they could be inexperienced and we know how…"
"The title of the question indicates this decision is coming from the underlying investor. Going around the issue may be easier than trying to fight it in this case. The listing agent should refer both listing side and buyer side to 2…"
"Hi Damon. My seller had her CPA file for an exception with the IRS. Once we received the letter form the IRS we were able to close without withholding.
Other solutions are: Some times once the filing is done the closing agent can hold the 10% in…"
"Thanks for the replies, and I'll be certain to get a good CPA involved if the seller & I decide to pursue the short sale.
Bryant & Eric: Did either of your deals require a FIRPTA withholding?
The seller is…"
I just closed one last week. Sellers live in Ecuador. 1st I would recommend checking to see if this qualifies under the fast track program. If it does you will only need 4 docs.
"Damon. I just did a short sale for a foreign owner and is was very easy. My suggestion though would be for your seller to hook up with a CPA now. For one reason you will have to deal will FIRPTA. The seller is going to need a TIN and will need…"
I've got a foreign national seller with no social security number and no US tax returns. (Remember those days? 20%- 30% down and my goldfish could get a loan.) Property used for 2nd home & rental property. What are the chances of a short sale approval from Wachovia without the documentation? Has anyone dealt with this scenario before?See More
"Thanks for your comment about seeing some property while you're going to be in Las Vegas. I wasn't sure how to reach you directly to continue the conversation in a less public setting. Feel free to contact me at…"
"We (Las Vegas) have about 11,500 home on the market about 50% of which are short sales. There are another 11,000 or so homes in contract, 62% of which are short sales. However we are typically closing about 3000 homes per month, only 25%…"
"Citi mortgage just railroaded me into using them. When I contacted Citi to start the short sale, they said we had to use NQS to process the file. They waived the $90, and didn't mention the 1% (which is coming out the commission)…"
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