Should you encourage short sale?

[sdrealtor]

All of that could be arranged but as SD R said the key will be the selelrs willingness to go forward. If I knew more about th eproperty, lenders, loan etc I could give you some info to use with them if you wanted. I have seen it done before.

[SD Realtor]

xbox –

I am a bit curious about the question if you do a short sale and they don’t move out what are your options…

In any transaction, short or not short, if the sellers have not vacated by the agreed upon date of occupancy for the new owner then yes you go through a standard eviction process, (notice to quit and unlawful detainer)… If they trash the place while you are in the process then you will need to try to sue for damages at a later date.

Again, I would not make this an exception case, short sale or no short sale your question about an uncooperative seller who retains occupancy after title has transferred to your name is independent of the type of sale.

As with any short sales you do not START ESCROW until the bank has received the paperwork and accepted the short sale offer. This will take anywhere from a few weeks to many months. The SELLER LIVES THERE while this occurs. If the bank does approve the sale THEN escrow opens, you send escrow your deposit, and you START your due diligence. When escrow opened your escrow period started. Loosely speaking 30 days after escrow opened it should close assuming everything went to plan including your financing. At the close of escrow after the county records the sale you get the home. The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed. Again if it is trashed it becomes complex but not unsolvable. Honestly though, I believe the hard part is getting a deal done and you are putting the cart well ahead of the horse.

[SD Realtor]

xbox –

I am a bit curious about the question if you do a short sale and they don’t move out what are your options…

In any transaction, short or not short, if the sellers have not vacated by the agreed upon date of occupancy for the new owner then yes you go through a standard eviction process, (notice to quit and unlawful detainer)… If they trash the place while you are in the process then you will need to try to sue for damages at a later date.

Again, I would not make this an exception case, short sale or no short sale your question about an uncooperative seller who retains occupancy after title has transferred to your name is independent of the type of sale.

As with any short sales you do not START ESCROW until the bank has received the paperwork and accepted the short sale offer. This will take anywhere from a few weeks to many months. The SELLER LIVES THERE while this occurs. If the bank does approve the sale THEN escrow opens, you send escrow your deposit, and you START your due diligence. When escrow opened your escrow period started. Loosely speaking 30 days after escrow opened it should close assuming everything went to plan including your financing. At the close of escrow after the county records the sale you get the home. The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed. Again if it is trashed it becomes complex but not unsolvable. Honestly though, I believe the hard part is getting a deal done and you are putting the cart well ahead of the horse.

[SD Realtor]

xbox –

I am a bit curious about the question if you do a short sale and they don’t move out what are your options…

In any transaction, short or not short, if the sellers have not vacated by the agreed upon date of occupancy for the new owner then yes you go through a standard eviction process, (notice to quit and unlawful detainer)… If they trash the place while you are in the process then you will need to try to sue for damages at a later date.

Again, I would not make this an exception case, short sale or no short sale your question about an uncooperative seller who retains occupancy after title has transferred to your name is independent of the type of sale.

As with any short sales you do not START ESCROW until the bank has received the paperwork and accepted the short sale offer. This will take anywhere from a few weeks to many months. The SELLER LIVES THERE while this occurs. If the bank does approve the sale THEN escrow opens, you send escrow your deposit, and you START your due diligence. When escrow opened your escrow period started. Loosely speaking 30 days after escrow opened it should close assuming everything went to plan including your financing. At the close of escrow after the county records the sale you get the home. The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed. Again if it is trashed it becomes complex but not unsolvable. Honestly though, I believe the hard part is getting a deal done and you are putting the cart well ahead of the horse.

[SD Realtor]

xbox –

I am a bit curious about the question if you do a short sale and they don’t move out what are your options…

In any transaction, short or not short, if the sellers have not vacated by the agreed upon date of occupancy for the new owner then yes you go through a standard eviction process, (notice to quit and unlawful detainer)… If they trash the place while you are in the process then you will need to try to sue for damages at a later date.

Again, I would not make this an exception case, short sale or no short sale your question about an uncooperative seller who retains occupancy after title has transferred to your name is independent of the type of sale.

As with any short sales you do not START ESCROW until the bank has received the paperwork and accepted the short sale offer. This will take anywhere from a few weeks to many months. The SELLER LIVES THERE while this occurs. If the bank does approve the sale THEN escrow opens, you send escrow your deposit, and you START your due diligence. When escrow opened your escrow period started. Loosely speaking 30 days after escrow opened it should close assuming everything went to plan including your financing. At the close of escrow after the county records the sale you get the home. The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed. Again if it is trashed it becomes complex but not unsolvable. Honestly though, I believe the hard part is getting a deal done and you are putting the cart well ahead of the horse.

[SD Realtor]

xbox –

I am a bit curious about the question if you do a short sale and they don’t move out what are your options…

In any transaction, short or not short, if the sellers have not vacated by the agreed upon date of occupancy for the new owner then yes you go through a standard eviction process, (notice to quit and unlawful detainer)… If they trash the place while you are in the process then you will need to try to sue for damages at a later date.

Again, I would not make this an exception case, short sale or no short sale your question about an uncooperative seller who retains occupancy after title has transferred to your name is independent of the type of sale.

As with any short sales you do not START ESCROW until the bank has received the paperwork and accepted the short sale offer. This will take anywhere from a few weeks to many months. The SELLER LIVES THERE while this occurs. If the bank does approve the sale THEN escrow opens, you send escrow your deposit, and you START your due diligence. When escrow opened your escrow period started. Loosely speaking 30 days after escrow opened it should close assuming everything went to plan including your financing. At the close of escrow after the county records the sale you get the home. The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed. Again if it is trashed it becomes complex but not unsolvable. Honestly though, I believe the hard part is getting a deal done and you are putting the cart well ahead of the horse.

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[sdrealtor]

Exactly, I would just make their vacating the property prior to COE part of the contract if you think it would be a problem. I’ve never had sellers holdover on short sales for what it is worth.

The real chalenge is twofold. Will the sellers go for it? Equally important, will the lender go for it which is what I offerd to help you with.

[sdrealtor]

Exactly, I would just make their vacating the property prior to COE part of the contract if you think it would be a problem. I’ve never had sellers holdover on short sales for what it is worth.

The real chalenge is twofold. Will the sellers go for it? Equally important, will the lender go for it which is what I offerd to help you with.

[sdrealtor]

Exactly, I would just make their vacating the property prior to COE part of the contract if you think it would be a problem. I’ve never had sellers holdover on short sales for what it is worth.

The real chalenge is twofold. Will the sellers go for it? Equally important, will the lender go for it which is what I offerd to help you with.

[sdrealtor]

Exactly, I would just make their vacating the property prior to COE part of the contract if you think it would be a problem. I’ve never had sellers holdover on short sales for what it is worth.

The real chalenge is twofold. Will the sellers go for it? Equally important, will the lender go for it which is what I offerd to help you with.

[Author]

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