In a short sale transaction, Wells Fargo works with the listing agent designated by the homeowner as an authorized third party. We provide process information. We’re pleased to have the opportunity to work with you on potential short sale properties. If you’re not familiar with a short sale, it’s when the property is placed. As relates to a certain real estate purchase contract dated _____ j_____ j_____ concerning the This Short Sale Affidavit (“Affidavit”) is given by the Seller(s).
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We welcome your feedback and are continuously working to improve the short sale process to better serve you and our customers. The clause is, in my opinion, is intended to keep investors from doing simultaneous closings.
Wells Fargo Short Sale Addendum
I’m thinking of just adding a written addition to their addendu, that states I shrt the right to resell once I’m on title. I was waiting for verbal approval to start marketing.
I just called wells and think cleared everything up. If, after you have tried 2 and 3 to no avail, you could contact your attorney to have him right an opinion letter. If using your own funds, you can use two separate title companies. Skip to page content.
When faced with a situtation such as Alex’s and banks that have dug their heels in on the flipping wouldn’t the most expeditious course of action then be to go right to the A-C lishing get a fee from C. This is expensive and has not worked out well for me.
Email required Address never made public. Wells Fargo decides whether to accept an offer, decline, or counteroffer. Addsndum The buyer must obtain financing approval, or show proof of funds if purchasing with cash.
Post was not sent – check your email addresses! Myth My seller has to addenvum an offer first to get a short sale approval.
Information for Real Estate Agents | Short Sales | Wells Fargo
Courtesey of Justin S. Sorry, your blog cannot share posts by email. Truth In most cases, the seller can be approved for a short sale before receiving an offer. The timeline for offer review and acceptance or counteroffer varies by investor.
Once you have obtained a response under one of the options above, take it to your title company to see if they will help you will a double close. I’m going to try option 1 and 2 and if neither of those work out, I guess I’m just going to go straight from A-C Great conversation I have completed doubles with First American Title with that addendum All parties to the adxendum transaction must be unaffiliated.
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Wells Fargo Short Sale Addendum
By continuing to use this website, you agree to their use. Depending on the investor, the approval for a homeowner to do a short sale shlrt good for days.
So, we waited and once we got approval, started marketing it. Download Listting Reader for free. Thanks for your help and clarification on this. Education Tips and resources Frequently asked questions Pursuing a short sale may not stop foreclosure proceedings, so it is very important that the homeowner and listing agent complete requested tasks as quickly as possible.
Do they have teh cash to come to the table for your “fee”, if not, will advendum be financed thorugh their lender? A short sale lets a homeowner with a documented financial hardship sell the home for less than the total amount owed on the mortgage. Set the proper expectations. The LM for WF came back and told me they just didn’t shlrt me actively selling the property when they hadn’t approved the short sale. Log in Email Password Forgot password? In a short sale transaction, Wells Fargo works with the listing agent designated by the homeowner as an authorized third party.