Do Sellers Need To Sign Anything Else While I Am Doing Short Sale
I've got property owners who i'm working on a short sale for. I got them to sign the release form so that I can work with the bank on their short sale.
Do I need to have the sellers sign anything else while I am working on the short sale?
I would think that you would get the seller to sign a sales contract & maybe a Warranty Deed.
Sorry for the basic questions but I am just starting out....
OK - but how do I get them to sign a sales contract if I have not yet done the short sale.
And what would the warranty deed do for me at this point in the game.
Hi csilvestri,
The warranty deed wouldn't do anything for you at this point!
You would put together a P&A based on the discounted price that you are offering the bank. The P&A would be contingent upon the bank Short Selling the note. If you cant come to an agreement with the bank, both you and the seller are free to part ways!
BAMZ