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Need help with Nationstar- New buyer after previous buyer walked, now can't get HUD signed and needs to close in 24 hours.

Posted by Eric Redlinger on August 19, 2013 at 4:59am in Short Sale Discussions

I brought in a new buyer to a short sale (not my listing) after the previous buyer walked 6 days from closing.  Equator said the new buyer (my client) wouldn't have to wait for a new approval as long as the net on the HUD was the same.  All they would need to do is approve the HUD with my client as the new buyer and we could close.  Was supposed to close Friday redemption is up in a day or so and Nationstar now said it needs to go through the whole approval process again.  Anyway to get this cleaned up and closed? 

 

Thank you,

 

Eric Redlinger

Coldwell Banker Burnet

Minneapolis Minnesota

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Replies

  • Jonathan Katz August 19, 2013 at 9:44am

    Eric,

         If the approval letter is buyer specific than a deal change will need to take place. If the approval letter isn't buyer specific than it may be possible to do a buyer switch if all terms are exactly the same. Why are they stating that the deal needs to be reworked? An extension should of been requested right when the buyer walked prior to advising the servicer that a new buyer was coming in.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

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