Nah, I don’t really venture that far west.
Looks like even if we do find a title policy, this deal is going to get put on ice. We’ll need to wait to get an official letter from Citi before we can close and not worry about any other outlying issues.
Thanks Ned. I’ve done a few of these. Never considered them short sales because (1) it was at a time when short sales weren’t as popular as they are now and (2) the mortgage lender wasn’t foreclosing. Just sitting there waiting to lose his collateral during an impending tax foreclosure.
Interesting nonetheless. Thanks again.
Someone once mentioned to me that you can take over control so to speak of a short sale as the investor, EVEN if the homeowner has already signed a listing with a realtor.
Is there a name to the form/contract I need to have the owner sign to cancel their realtor agreement and allow me to do the short sale?
Final update on the purchase:
Closing attorney received an updated approval letter from the lender this evening, and will be wiring the funds in the morning. As of then, we will own the house… 🙂
Demo starts tomorrow…
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