Hi Kevin

Not sure about the standard sale stuff. Title to the home may be held in a trust which is not uncommon. The short sale approval still follows the same process though so I would not worry to much about that. If the sale goes through in order for your loan to fund, title will have to convey cleanly. If there are any problems during with conveyance you will be notified. Most short sales are as-is. Once you start the due diligence process you can get all of your inspections done. You can ask for repairs or credits for repairs based on your findings. The probability of receiving the repairs or credits is proportional to the severity of the damage found and of course the lender(s) you are seeking approval from. The highest chances for success of approval are when people do not ask for things. Note that the approval process takes a long time to achieve and once you get approved, when you resubmit a request like you intend to do, you will need to wait for them to reapprove. If you have already started your loan process and you have a relatively short window for locking the approval process for your requests may be longer then your lock period. Beware. There are two policies of title insurance, one that covers you the buyer, and one that covers your lender. Typically (but not always) the seller buys the policay that covers you, and you will buy a policy that covers your lender. If you are frustrated with your agent why do you continue to work with them? Get a better one. Hope this helped!

Hi Kevin

Not sure about the standard sale stuff. Title to the home may be held in a trust which is not uncommon. The short sale approval still follows the same process though so I would not worry to much about that. If the sale goes through in order for your loan to fund, title will have to convey cleanly. If there are any problems during with conveyance you will be notified. Most short sales are as-is. Once you start the due diligence process you can get all of your inspections done. You can ask for repairs or credits for repairs based on your findings. The probability of receiving the repairs or credits is proportional to the severity of the damage found and of course the lender(s) you are seeking approval from. The highest chances for success of approval are when people do not ask for things. Note that the approval process takes a long time to achieve and once you get approved, when you resubmit a request like you intend to do, you will need to wait for them to reapprove. If you have already started your loan process and you have a relatively short window for locking the approval process for your requests may be longer then your lock period. Beware. There are two policies of title insurance, one that covers you the buyer, and one that covers your lender. Typically (but not always) the seller buys the policay that covers you, and you will buy a policy that covers your lender. If you are frustrated with your agent why do you continue to work with them? Get a better one. Hope this helped!

Hi Kevin

Not sure about the standard sale stuff. Title to the home may be held in a trust which is not uncommon. The short sale approval still follows the same process though so I would not worry to much about that. If the sale goes through in order for your loan to fund, title will have to convey cleanly. If there are any problems during with conveyance you will be notified. Most short sales are as-is. Once you start the due diligence process you can get all of your inspections done. You can ask for repairs or credits for repairs based on your findings. The probability of receiving the repairs or credits is proportional to the severity of the damage found and of course the lender(s) you are seeking approval from. The highest chances for success of approval are when people do not ask for things. Note that the approval process takes a long time to achieve and once you get approved, when you resubmit a request like you intend to do, you will need to wait for them to reapprove. If you have already started your loan process and you have a relatively short window for locking the approval process for your requests may be longer then your lock period. Beware. There are two policies of title insurance, one that covers you the buyer, and one that covers your lender. Typically (but not always) the seller buys the policay that covers you, and you will buy a policy that covers your lender. If you are frustrated with your agent why do you continue to work with them? Get a better one. Hope this helped!

Dr., you mentioned that you put the offer in through the seller’s agent. Does that mean you didn’t use your agent in the process or that you chose to bypass your agent and go directly through to the listing agent?

In this case your agent may be frustrated with you :). SDR did a good job of explaining everything and should help you understand your questions. Keep in mind a number of agents in SD have a hard time understanding short sales, but if your agent seems to be uneducated there are a handful of agents out there qualified and educated in the short sale process that can help you. Let us know what happens!

Dr., you mentioned that you put the offer in through the seller’s agent. Does that mean you didn’t use your agent in the process or that you chose to bypass your agent and go directly through to the listing agent?

In this case your agent may be frustrated with you :). SDR did a good job of explaining everything and should help you understand your questions. Keep in mind a number of agents in SD have a hard time understanding short sales, but if your agent seems to be uneducated there are a handful of agents out there qualified and educated in the short sale process that can help you. Let us know what happens!