we have just started a short sale. Got the listing and got the buyer. Court has granted summary judgement in the foreclosure action and set a sale date of April 18th. Is it possible to have the sale date postponed and if so, how do i acheive that ?
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I am in FL .Well I did my best and had the seller send a request to postpone the summary judgement together with copies of the listing agreement and the purchase contract to the court. Maybe I should have got the seller to ask for an extended sale date instead of a postponement of the summary judgement hearing. Seller (investor) has been in foreclosure for 4 years and done nothing until now so I guess that the judge will not be willing to postpone. THanks for the info
If I were the seller, I would still file a request for an emergency hearing...how would it hurt?
It of course depends on what state you are in, but here in Florida the only two people that can defend a foreclosure is the homeowner or their attorney. I have seen several homeowners (or their attorney) take the purchase contract and file an emergency hearing, gone in front of the judge and request an additional 120 days to complete the short sale transaction (normally they got 60-90 days). All of these we have gotten the short sale in motion to the best of our ability and pushed along as far as possible and also requested and escalated at the banks for a foreclosure sale date cancellation. Some banks will not stop the sale, but here in Florida, the courts call the shots...if the judge postpones, the banks have no say. I will warn you that the judges here in Palm Beach don't want to hear from the banks that they want to delay their own sales if it is less than 15 days to the sale date so the responsibility to get it done becomes the sellers-even if the bank wanted to stop it, if it's less than 15 days to sale, there is a good chance the judge will deny the banks request...but are more sympathetic to the homeowner. I have also seen better results with Primary residences that are owner occupied over investor owned properties. Good luck! :)
I don't have the answer yet but I'm working on a similiar story with Wells Fargo and the sale date is April 3rd. Will post if I get an answer and will watch to see what replies come in for this. Thanks for asking the question.