Can Transfer Of Deed Hold Up An Auction?
sale date set for 5/10. last January, the house was deeded to a land trust. the atty handling the foreclosure has never noticed the Trust on the summary judgment hearing nor the sale. Someone told me that I should let the atty know of the title transefr and the sale will have to be postponed while proper notice is given to the Trust. Is that correct?
[ Edited by toobizee on Date 05/02/2007 ]
No, a foreclosure sale is not derogatory to the credit of the owner of record in the situation you describe.
If you recorded your Deed defore the LP was filed, though, your Deed will cloud the title of the auction purchaser. Otherwise, there is no need to QC it back to the owner.
You sit down with them and you lay everything out. You tell them you have done all you can and they have no other option. If it cannot be done then it cannot be done.
Good point. I was actually wondering the same thing. Does Anybody have a response to this?[ Edited by ryand on Date 04/28/2007 ]
nobody does short-sales this way?
that is what i was thinking, but, what if they pay for their appraisal and title search and inspection and your SS get declined?? now they lose 1000? ? thats the part i dont get
great response. thanks
If you are a REA in CA how can you make $$ on a SS above your commission which the SS lender cuts in half.