idea for delaying sale...good?...bad?
I was talking to a bank the other day and the only way they would delay the sale on this particular property was if they had a contract on it. My thought was to write a contract and get proof of funds, but put a 'get-out-clause' in the contract and once the sale is delayed, just back out of the contract and try the short sale again. The contract of course would be in someone elses name. Any thoughts?
That sounds like a very cruel trick to do to the bank. You shouldn't be sneaky just to get a deal done. If the short sale was rejected, then either counter or suck it up and move on. Don't try to go around their back, to me that's unethical. I don't know if I could have that on my conscience. The only way to delay a foreclosure is if the homeowner files for bankruptcy, but that will have detrimental effects on their credit. Let it go, you'll find another lead.
Tanya