Short Sale Closing
Replies to This Discussion
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Permalink Reply by Wendy Rulnick on
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Darlene - They need to hire an attorney now.
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Permalink Reply by Darlene Bradley on
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The buyer's do have an attorney. Seller's attorney is tried everything to get her out. Explained to father he would have several law suits on his hands. Daughter is just milking the situation, her complaint is, she has no where to go with her two dogs. We(buyer's) are considering having attorney write letter demanding she get out and threating law suit. Any other suggestions?
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Harry Clay said:1. How much longer is the HO's jail sentence?
2. What's he in for?
3. How close is he to that sister who's been squatting in his house for the last 4 years?
4. Are you & your would-be buyer very brave?
I'd truly recommend giving serious consideration to all those issues before trying to push your way in where you're evidently not wanted.
Wouldn't it just be better to let the bank foreclose, & be the bad guy, when & if this HO comes looking for revenge?
Aren't there other short sale properties in your area without all this this potentially horrific baggage?
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Harry Clay said:1. How much longer is the HO's jail sentence?
2. What's he in for?
3. How close is he to that sister who's been squatting in his house for the last 4 years?
4. Are you & your would-be buyer very brave?
I'd truly recommend giving serious consideration to all those issues before trying to push your way in where you're evidently not wanted.
Wouldn't it just be better to let the bank foreclose, & be the bad guy, when & if this HO comes looking for revenge?
Aren't there other short sale properties in your area without all this this potentially horrific baggage?
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Don't know how long his sentence is. drugs! Not sure of any of these questions.
Of course there are other properties, it's just that my buyer's have gone through this entire process and waited now this! Buyer's also gave notice to get out of their apartment 7/1 and can't stay longer as it is sold. Purchasing this house would make the process easier for everyone, other than starting over.
Harry Clay said:1. How much longer is the HO's jail sentence?
2. What's he in for?
3. How close is he to that sister who's been squatting in his house for the last 4 years?
4. Are you & your would-be buyer very brave?
I'd truly recommend giving serious consideration to all those issues before trying to push your way in where you're evidently not wanted.
Wouldn't it just be better to let the bank foreclose, & be the bad guy, when & if this HO comes looking for revenge?
Aren't there other short sale properties in your area without all this this potentially horrific baggage?
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Hi Harry,
I am interested in knowing a bit more about tenant's rights after a short sale. I represent the Buyer in a short sale in California. The listing agent just handed me a Short Sale Contract Addendum that's asking for the Seller to remain in home 45 days after close of escrow. I was also given the Bank Approval at the same time by the LA, and we are to close in a week. I was shocked that the LA is asking for this. I thought sellers can't remain in the home after short sale closes.
What's worse is that my Buyer is an investor who is not going to live in the house, and so nice that he would probably say sure. It's such a bad idea on so many levels, and I want to make sure I cover myself. Any suggestions?
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Sorry, for clarification, tenants are not living in the home. The Seller is living in the home, and wants to remain 45 days after close.
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Thank you Harry. I'm also going to have a talk with the Listing Agent. He can't possibly think this is a good idea.
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Permalink Reply by Beverly Cibulsky on -
T Arnold said:Hi Harry,
I am interested in knowing a bit more about tenant's rights after a short sale. I represent the Buyer in a short sale in California. The listing agent just handed me a Short Sale Contract Addendum that's asking for the Seller to remain in home 45 days after close of escrow. I was also given the Bank Approval at the same time by the LA, and we are to close in a week. I was shocked that the LA is asking for this. I thought sellers can't remain in the home after short sale closes.
What's worse is that my Buyer is an investor who is not going to live in the house, and so nice that he would probably say sure. It's such a bad idea on so many levels, and I want to make sure I cover myself. Any suggestions?
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Permalink Reply by Beverly Cibulsky on
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Darlene Bradley said:The buyer's do have an attorney. Seller's attorney is tried everything to get her out. Explained to father he would have several law suits on his hands. Daughter is just milking the situation, her complaint is, she has no where to go with her two dogs. We(buyer's) are considering having attorney write letter demanding she get out and threating law suit. Any other suggestions?
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Permalink Reply by Beverly Cibulsky on
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Darlene....
A real long shot, but perhaps worth a try! Would the buyer (and or agents) be willing to offer sister/daughter, occupant or true tenant? (does she have a ligit lease?) "cash for keys?" Are the agents involved willing to try and find her a rental and help relocate her? (Dogs are gonna be big problem!)
I dont think the "occupant", POA or guy in jail would real care about any additional law suits! You will need to get creative!
Best of luck with this!
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Thanks Beverly. We have tried everything. Found apartments and hotel that will take dogs. We(buyer's side) is writing a demand letter as we speak and seller's side is offering "cash for keys" 1/2 month hotel rent and asking father to chip in anothe 1/2 month rent. Hopefully we will see what transpires today. Again thanks for your input every little bit helps1
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