Short Sales are NEVER smooth. Even the pre-approved by the Lender Short Sales, commonly called COOP (co-operative) with B of A, and varieties of that with Chase and a few other Lenders. Even then..they have to get final approval by the Investors and all Short Sale List Agents know that can take some time...or only a few days! Hey, you just never know.
After 5 years of doing Short Sales with various Lenders, first liens, second liens, IRS liens, Mortgage Insurance issues..each has it's own problems. A consistent fact is that every single Lender insists that ALL THE DOCUMENTS in the Short Sale package match!
- Buyers names
- Sellers names
- Addresses
- Agent names
- Agent companies
What if your Grant Deed does not match your Loan Documents? Simple. Make it! Your List Agent should have an experienced Title Agent in their Short Sale arsena. The name or names on your Loan Documents MUST match exactly the name on the Grant Deed..period!
Short Sales are interesting and require creativity and they are a challenge. Choose your Short Sale List Agent wisely.
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