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October 18, 2010 at 7:49 PM #18089October 18, 2010 at 8:39 PM #619758urbanrealtorParticipant
No.
Next question?October 18, 2010 at 8:39 PM #620831urbanrealtorParticipantNo.
Next question?October 18, 2010 at 8:39 PM #619841urbanrealtorParticipantNo.
Next question?October 18, 2010 at 8:39 PM #620510urbanrealtorParticipantNo.
Next question?October 18, 2010 at 8:39 PM #620392urbanrealtorParticipantNo.
Next question?October 18, 2010 at 8:54 PM #620407urbanrealtorParticipantMore specifically, any escrow will verify payoff with all identifiable stakeholders.
If you buy a short through an escrow, the title company won’t allow it to close without a clear understanding from the tax man.
It is, however, entirely possible for a seller to ask you to contribute to their liens (including tax liens).
If you buy on the courthouse steps then it is possible for you to inherit a previous owner’s tax debt.
Those can be attached to the property up to 120 days after the auction.
But then that is not a short sale.
October 18, 2010 at 8:54 PM #620846urbanrealtorParticipantMore specifically, any escrow will verify payoff with all identifiable stakeholders.
If you buy a short through an escrow, the title company won’t allow it to close without a clear understanding from the tax man.
It is, however, entirely possible for a seller to ask you to contribute to their liens (including tax liens).
If you buy on the courthouse steps then it is possible for you to inherit a previous owner’s tax debt.
Those can be attached to the property up to 120 days after the auction.
But then that is not a short sale.
October 18, 2010 at 8:54 PM #620525urbanrealtorParticipantMore specifically, any escrow will verify payoff with all identifiable stakeholders.
If you buy a short through an escrow, the title company won’t allow it to close without a clear understanding from the tax man.
It is, however, entirely possible for a seller to ask you to contribute to their liens (including tax liens).
If you buy on the courthouse steps then it is possible for you to inherit a previous owner’s tax debt.
Those can be attached to the property up to 120 days after the auction.
But then that is not a short sale.
October 18, 2010 at 8:54 PM #619855urbanrealtorParticipantMore specifically, any escrow will verify payoff with all identifiable stakeholders.
If you buy a short through an escrow, the title company won’t allow it to close without a clear understanding from the tax man.
It is, however, entirely possible for a seller to ask you to contribute to their liens (including tax liens).
If you buy on the courthouse steps then it is possible for you to inherit a previous owner’s tax debt.
Those can be attached to the property up to 120 days after the auction.
But then that is not a short sale.
October 18, 2010 at 8:54 PM #619773urbanrealtorParticipantMore specifically, any escrow will verify payoff with all identifiable stakeholders.
If you buy a short through an escrow, the title company won’t allow it to close without a clear understanding from the tax man.
It is, however, entirely possible for a seller to ask you to contribute to their liens (including tax liens).
If you buy on the courthouse steps then it is possible for you to inherit a previous owner’s tax debt.
Those can be attached to the property up to 120 days after the auction.
But then that is not a short sale.
October 18, 2010 at 9:00 PM #619860SD RealtorParticipantAsk your agent to have the listing agent send you a copy of the estimated HUD that the listing agent will need to send to the short sale negotiator. This will enable you to see the estimated liabilities that the seller has. Sometimes though, the escrow company may use a dated preliminary title report that didnt identify all the liens. That could suck but you would not get stuck with the bill if they were property taxes. Like UR said, any other sort of debt (for instance HOA liens or mechanics liens) is THE CHOICE of the short sale lender to pay off. If they do not want to they may ask you to and if you do not want to then you can walk away. Your other concern of course is the condition of the property. You can try to ask for repairs after the short sale has been accepted by the lender but more often then not they say no.
October 18, 2010 at 9:00 PM #620412SD RealtorParticipantAsk your agent to have the listing agent send you a copy of the estimated HUD that the listing agent will need to send to the short sale negotiator. This will enable you to see the estimated liabilities that the seller has. Sometimes though, the escrow company may use a dated preliminary title report that didnt identify all the liens. That could suck but you would not get stuck with the bill if they were property taxes. Like UR said, any other sort of debt (for instance HOA liens or mechanics liens) is THE CHOICE of the short sale lender to pay off. If they do not want to they may ask you to and if you do not want to then you can walk away. Your other concern of course is the condition of the property. You can try to ask for repairs after the short sale has been accepted by the lender but more often then not they say no.
October 18, 2010 at 9:00 PM #620530SD RealtorParticipantAsk your agent to have the listing agent send you a copy of the estimated HUD that the listing agent will need to send to the short sale negotiator. This will enable you to see the estimated liabilities that the seller has. Sometimes though, the escrow company may use a dated preliminary title report that didnt identify all the liens. That could suck but you would not get stuck with the bill if they were property taxes. Like UR said, any other sort of debt (for instance HOA liens or mechanics liens) is THE CHOICE of the short sale lender to pay off. If they do not want to they may ask you to and if you do not want to then you can walk away. Your other concern of course is the condition of the property. You can try to ask for repairs after the short sale has been accepted by the lender but more often then not they say no.
October 18, 2010 at 9:00 PM #619778SD RealtorParticipantAsk your agent to have the listing agent send you a copy of the estimated HUD that the listing agent will need to send to the short sale negotiator. This will enable you to see the estimated liabilities that the seller has. Sometimes though, the escrow company may use a dated preliminary title report that didnt identify all the liens. That could suck but you would not get stuck with the bill if they were property taxes. Like UR said, any other sort of debt (for instance HOA liens or mechanics liens) is THE CHOICE of the short sale lender to pay off. If they do not want to they may ask you to and if you do not want to then you can walk away. Your other concern of course is the condition of the property. You can try to ask for repairs after the short sale has been accepted by the lender but more often then not they say no.
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