I am working on a hafa short sale where there is only a 1st through Wells Fargo. There is also a lien through the city for sidewalk improvements. The city is owed approximately $6800. The city will not negotiate on what they are owed. Anyone know how to deal with Wells Fargo on this issue. I have not been assigned anyone at Wells Fargo yet but I am hoping when I do get assigned to someone I will know how to handle this City lien situation. I have dealt with liens but never one this high before. Does anyone know if Wells Fargo will pay it? Any advise would be appreciated
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Factor the lean into the agreement of sale as a contingency. If the property goes REO, it would need to be satisfied anyway. At the end of the day, if the shortsale is mitigating losses of the investor, the deal will get done.