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I had a buyer but it fell thru. The bank has approved me for a short sale but what if I can't find a buyer. Do I just keep looking for a buyer until I find one?
It might help if mention of that is made in the MLS - agents appreciate knowing that 'half the battle' has already been fought in a short sale situation... They don't have to start all the way from square one (hopefully!)
It might help if mention of that is made in the MLS - agents appreciate knowing that 'half the battle' has already been fought in a short sale situation... They don't have to start all the way from square one (hopefully!)
I'd agree with that. I walked away from a short sale because the sellers were dragging their feet in getting their ducks in a row and I didn't feel they were serious enough.
One that is already approved by the bank and ready to roll would be very attractive though - assuming of course I liked the house and the price offered good value.
It's usually the lender dragging their feet, but the sellers can certainly delay things if they don't get all their financial info to the lender quickly.
I had a buyer but it fell thru. The bank has approved me for a short sale but what if I can't find a buyer. Do I just keep looking for a buyer until I find one?
Here's what GMAC said: Come November if there's no buyer they'll do a deed in lieu. I asked if I'll still have to pay taxes and they said no they would! They said FHA requires taxes to be paid. GMAC is treating like I'm the owner of the company and the guy who gives out raises every year.
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