"If there's equity, it's not a short sale. Congrats on avoiding a potentially lengthy short sale process!! Interested in knowing how this wasn't known before it was even listed or, at the latest, after the sales contract…"
I've never heard of that, but I'm not necessarily up-to-speed on that rules. I would suggest, however, that you get a hold of the attorney handling that case and send them your fully executed purchase and sale agreement and letter…"
So, I sit on hold for the usual 1 hour hold time today, with WellsFargo. The rep was courteous when they took my call, looked over theirinfo on their system and gave me the name of the negotiator, then theiremail address, which was a Wachovia address, as the 1st mortgage was originally with Wachovia. Well, I send a quick email to that address, and it got returned as undeliverable. Then, I decided to send it to the same name, but to wellsfargo.com, instead. Same thing, returned as…See More
"I've seen effectively the same language in bank documentation, in the past. I'm certain the banks are becoming well aware of the shenanigans that some sellers are playing with the current mortgage "crisis" in our environment. I…"
"Maybe I'm missing part of the situation here, so please pardon me. What "contract" are you waiting for? Did you already submit an offer to the seller? If so, did they accept and sign your offer? If so, then you have a contract. With…"
Did they actually make a counter-offer, or did they issue a short sale approval at a certain price, which ended up being higher than your offer? Technically, only the seller would be authorized to make a counter-offer to you, since the…"
""IS IT POSSIBLE FOR THE BANK TO CHANGE THOUGH THIS PROCESS?"
It can happen, but I don't think it's common. Someone will usually get notified in advance. If the property goes into pre-foreclosure, the current lender may send it…"
"A lawyer is the only one who can legally write up a contract. But, most Realtor boards have "stock" contracts prepared by their attorney for board members to fill in the blanks. Now, a seller and buyer can draft their own contract, too,…"
Welcome to ShortSaleSuperstars! Hopefully you'll get your questions answered. I'll offer up some info for you.
Here's the basic process I go through with my short sale listings:
1. List the property at a price comparable to…"
Last year, I sold a townhouse through short sale with a seller who relocated by choice. They were never late on payments or anything. Their mortgage was with Citibank. They still had to provide all their financial paperwork for the process,…"
"Just wanted to keep this updated. The seller decided to cancel the contract and stake claim in the binder deposit. As expected, the buyer's agent says the buyer will fight this and try to get back their deposit. We're clearly beyond the…"
Broker/Owner of Step One Realty in Jacksonville, FL. I have plenty of short sale experience with successful closings of short sale transactions. I am also actively engaged in Jacksonville Property Management.
You need to be a member of Short Sale Superstars to add comments!
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.