Archives for February 2013

Short Sale CASE STUDY: 016

Back On The Market

As with so many short sales we handle, the first position buyer has decided that this is not the property for him.

When I first decided to use this short sale as a case study I was a little disappointed that it turned out to be an FHA short sale because I wanted this to represent what the average short sale looked liked.

I am pleased (or un-pleased) to say that this latest turn of events has really started to make this short sale look very typical.

Just Another Delay

If you are going to process short sales you ned to be prepared for [Read more…]

Short Sale CASE STUDY: 015

Short Sale Approved

 

For real this time.  :)

A couple of days after submitting the final documents the negotiator had requested we were issued the full approval.

This approval contains the FHA Sales Contract Review form and the FHA Closing worksheet signed and approved by the negotiator.  Wells Fargo also added another 5 pages listing a breakdown of acceptable closing costs, commissions and many other stipulations for me to review and share with the seller.

As I have mentioned in a previous post, there is specific language that MUST [Read more…]