Forum

Short Sale package with a Sales agreement

Posted by Donna Paul on March 30, 2010 at 1:54pm in Short Sale Discussions

I have a short sale but my buyer just doesn't want to wait for the long process.  Do you think the bank will accept it with a sales agreement instead of a contract. The loan is with Chase Bank and  the short sale is only on the second loan.... What do you think?..

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Tags: acceptance, sale, short
Email me when people reply –
Follow

Replies

  • Mr Stallioninc April 11, 2010 at 10:17am
    As a buyer it would seem to me the reason I am impatient would be due to another deal or not enough equity in the one you are offering to your buyer. If both sides are not willing to commit to the agreed number then walk away you save time and passion on this deal there are just to many out there. When the lender starts feeling the affects of this market they will bend they are bending now!! Take your time and do other deals put that on the back burner
  • Donna Paul April 2, 2010 at 1:31am
    I know but my seller just wants to find out it the bank is wiling to accept the offer on her loan. She is planning on paying off the first and complete a short sale on the second. The first and second loan is with the same bank. Thanks for your thoughts on this.
    I have always submitted a contract when completing a short sale package so that this will let the buyer commit to the deal.
  • Bryant Tutas March 31, 2010 at 11:30am
    The question I would ask you is why submit this if the buyer is not willing to commit? Short sales get approved when a serious seller and a serious buyer go under contract at a reasonable price and both parties allow time to get the deal approved and closed. In my opinion anything less than this is a waste of everybody's time and clogs up the system.
This reply was deleted.
********************************** like buttons ************************