- This topic has 3 replies, 3 voices, and was last updated 11 years, 1 month ago by Jessica.
April 20, 2012 at 10:44 AM #19710April 20, 2012 at 10:54 AM #741970SD RealtorParticipant
I would strongly advise that you talk to your realtor about this.
With that said, lets take a few steps back.
The short sale process does not really begin until your offer is actually accepted by the seller. So what you do first is that your agent should be submitting all of the necessary paperwork, rpa, short sale addendum, and other relevant documents to the listing agent. Once all that is done, if the seller accepts the offer, then the short sale package will be submitted to the lender. Other documents will be submitted by the listing agent including an estimated HUD.
As for your part, the short sale lender will most likely require the additional information you described above. This helps the short sale lender confirm that this is an arms length transaction and that you are not related to the seller in any way. However it really should not be necessary to give this until your offer has been accepted by the seller.
If the offer has been accepted by the seller, then yes it is customary to provide that other information while the short sale lender considers whether to accept the offer or not.April 20, 2012 at 11:53 AM #741972sdrealtorParticipant
I just saw a similar request come on a short sale also. The lenders are getting very concerned with fraud…about time. Apparently BOA employees were robbing the kitty too and are no longer allowed to buy REO or short sales with BOA loans on themApril 20, 2012 at 10:57 PM #741988JessicaParticipant
Thank SD Realtor and sdrealtor. This is a great site. So many kind and capable people who like to help strangers.
Have a wonderful weekend.
- You must be logged in to reply to this topic.