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We listed it mid July and closed last week. Great experience and the seller walked away with $ 33,000 and although they will receive a 1099, nothing else to worry about!
Everybody involved in this short sale was pleased with the way it went.
Even the seller is suprised and was shocked to receive 2 checks at closing for all that money and would have prefered to stay in the home with a mortgage refi but was denied. They even tried it in court and could afford it. Very strange situation and they sellers even would have signed for a higher amount then the lender got from the cash buyer.
The lender didn't even counter their offer which was very strange since the CMA that we did was higher...I guess Chase rather had cash and a fast closing.
Just for buyers/sellers....short sales don't have to take long, it depends who are involved and how much both sides work along.
In this case the seller had every paper needed within 30 min. so it could be provided to the lender a.s.a.p. so no delays there. Buyers had all papers quickly and signed fast...no delay there.
Btw. there were 2 mortgages and the seller was under water for over $ 400 K.
I thought that on a short sale, the seller had to sign something as aprt of the lender's paperwork stating that they are receiving no proceeds from the sale.
I agree that this does not add up.
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