Hello,
I am currently working on a couple SS's
On one deal, the buyers loan requires 45 days to close. The lender only gave us 30 days or the deal is off. I called several times to the negotiator to extend that date and no call back. what can I do at this point. Also, at the inspection they discovered that the water heater is not working and evidence of termites. the house was listed AS IS. But the buyer is requesting repairs. Can they do that?
On my second deal, the financing is through FHA and the home is a second residence. The lender Midland Mortgage wont let me list for SS because it is not the sellers primary residence, its an investment property. The homeowner is goint to lose this home to foreclosure if its not listed soon. Is there any way around this?
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If you dont know what I should do, would you direct me to a resource that will help answer these questions?
I would really appreciate any help that you can offer with this!
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Hi Summer,
I'm not an agent but, I believe Harry is right on the money here. I say that because I recall this very thing happening here with a property a friend was purchasing. They were successful in getting it done (diplomatically). Remember, the house have to satisfy the buyer's lender requirements as well. I think Harry put it well when he mentioned, it's either the lender take care of it now while they have a buyer or, later when they've lost money already in REO.
Thanks Richard. I will definately keep that in mind in future deals!