We have an approved short sale and my buyer can't continue. What is the best way to submit a new contract with a new buyer? Wells Fargo, two mortgages. Please help.
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Unfortunately it has been my experience with Wells Fargo that they will NOT let you switch buyers. You can ask but chances are you will have to start over.
Thank you so much.
Yes, thank you for your help.
We had a Wells Fargo Approval and the buyer walked one day before we got the approval. We moved a new buyer in who was ready to close subject to the terms of the approval. Wells declined the short sale and we had to start new. had to resubmit a new short sale package. Took two months to get the new buyers approved.
Thanks....I will call them tomorrow.
Ruben,
I have found that Wells is Negotiator dependent. Your only hope is that you have a good relationship with them. Just give them a call and let them know what going on. Make sure your other contract is signed and ready to go and there are no changes that need to be made to the monetary figures on the approval then cross your fingers. I've had situations where I can switch with Wells and situations where they decline the file.
Thank you.
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