I have a Short Sale in progress, buyer and seller are under contract. Started out with BOA now with Nationstar. Nationstar is telling me I have to now allow Auction.com into the transaction to find a buyer?? I already have a buyer under contract and do not need Auction.com or want their service. Auction.com is calling my seller and me stating I must use them to move this short sale forward. Any help or advice?
We had our first Nationstar / Auction.com property sell on auction.com last month and another coming up. The property was overbid by 25% of the current market value.
I would like to know if that buyer that bid 25% over market will close.
This process is supposed to speed up the short sale process so they say.
I bet this buyer walks once he figures out he overpaid and your back to square one.
Now your short sale will take twice as long not shorter as it would if they just would let the market
work as it always does.
We started in early July and have a closing date end of November. Not terrible. But we have already had to extend the closing 30 days for an HOA complication. At least they are allowing us to chose escrow and title. It helps to work with people we are familiar with.
July to November. If your market is trending up like ours this could end up being an OK buy in NOV. Good luck on your closing.