Contacted Citi past December to initiate short sale. Submitted all required documents, with offer in January.
They contacted me to meet with appraiser in February.Have continued to stay in touch on a bi-weekly basis.
2 weeks ago when I called to check status, they informed me that the short sale department is no longer authorized to speak with me as the property owner is deceased and the file is with their legal department, which will not speak to me either. Yes, this was of couse part of our initial conversation in the beginning of process. I have worked on this for 7 months and now at a stand still and no one seems to know what to do or where to direct me... This person has been deceased for 3 years and property vacant that long! Anyone have an idea as to who or what to do at this point?
There is no sale date recorded yet. It was like they were working on it and now just stopped. Needless to say the buyers are getting restless!
Thanks for any direction.
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You need to check if there is a living trust. If so, then the heirs should work for the transfer of property. This should be faster because of the living trust. Now if no living trust, then it goes to a probate process. They need a probate lawyer to petition to the court. Once an executor/adminsitrator is assigned by the court, then you request the 3rd party authorization with the Letter of Administrator attached to it and use it to deal with the lender.
Hope this help.