Closing Date?
When doing a short what closing date should i put on the contract or should i leave that blank? The reason why im asking is because when doing a short you are not short when you goin to close...
thanks....
question is a little confusing, but i believe your talking about the contract with the seller. you could put "subject to banks approval of short sale" or "within 90 days" but the bank will be the one to give you the time frame in which you must close, if they approve the short, they will give you 30 days to close, you may be able to delay this by negotiating with the bank so that you can get another 30 days.
Thanks..... Should you tell the seller not to file bankruptcy when doing a short shale?
Advising the Seller about bankruptcy and the decision to file or not file is considered to be legal advice... If you are an attorney that's fine. If not, maybe you should read a bit more about the do's and don'ts about what you are trying to do.
If you don't choose to read before doing... then I'd recommend a good errors and omission insurance policy with a low deductible.