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Owner Occupants Purchasers Only on IndyMac Shortsale?

Posted by William "Andy" Alford on July 20, 2011 at 6:24am in Short Sale Discussions

I represent a cash buyer/investor interested in purchasing an IndyMac short sale.  Listing agent says that IndyMac will give approval only if purchaser is owner-occupant.  I've never encountered such a restriction on a short sale as a listing or buyer agent.  Has anyone else experienced this, or is the listing agent dazed and confused?

 

 

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Replies

  • Nathan Miller July 20, 2011 at 2:40pm
    Just closed one a couple weeks ago, only thing was they required an addendum stating the property would not be resold within 90 days of closing.
  • William "Andy" Alford July 20, 2011 at 10:02am
    Hello Smitty, I appreciate your insight.

    Smitty said:
    I'm with Jeff.  I've closed indy mac with investors..unless this is something new, but if it is, they are bordering on discrimination.
  • Smitty July 20, 2011 at 9:39am
    I'm with Jeff.  I've closed indy mac with investors..unless this is something new, but if it is, they are bordering on discrimination.
  • William "Andy" Alford July 20, 2011 at 7:21am
    Thanks for the info!
  • Jeff Payne July 20, 2011 at 7:17am
    Never heard that, have closed a few indy mac deals with investor buyers
This reply was deleted.
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