We are getting used to "short sale" properties, so below are some short sale ALERTS!
Short sales require careful examination by title companies. A short sale demand can be viewed as a contract between the lender and the borrower. Unless all the terms of the demand have been met, the lender may not be under any obligation to accept the terms of the short sale. For this reason title and escrow companies are careful to make sure all the lender's requirements are fullfilled.
Expiration dates....It is very important to note the expiration dates on all demands and payoff instructions. If the expiration date is prior to the close of escrow, a new written demand or extension will be necessary. These demands need to be extended for at least two days after funding. This will ensure that the funds can be transferred in time after confirmation.
more about SS later.....
Call or email for additional information regarding these properties or selling your property. I am an expert on exhanges, investments, probates, bank owned, commercial, multi-family units, and land. 388 South Lake Avenue, Pasadena, CA 91101 Call: 626 8275151