Background: To make a long story short, Seller applied for and received HAFA approval for a short sale at a predetermined price - but did not share that information until AFTER we put her house on the market as a short sale (had not planned to go through HAFA) and received an offer. Okay, threw me for a loop, but okay, here we are.
Just received word the buyer will go forward at the HAFA price. Okay, so far, so good.
So why do I have this feeling it is not nearly as easy and straightforward as the HAFA paperwork makes it sound? Or is it just my general distrust of anything dealing with the feds that is causing my cynicism?
What if the buyer's appraisal comes in low? Has anyone run into this situation before? The HAFA price, while higher than our offer, is pretty daggone close to what I have always thought market value should be, within a few thousand dollars. What happens if the buyer walks during the process? Has anyone ever tried for an extension?
Just trying to cover all my bases. Thanks for any help!
**********************************
like buttons
Replies