Question!
I have done a number of shortsales before including double closings but my question is this. I know some Gurus preach this method but was curious as to the methods validity. Example - Home owner is in foreclosure calls and says help me i just want to walk away, you say ok im going to have to take title in a land trust and negotiate a shortsale and in the meantime put the house on the market, in hopes that the bank accepts a heavy discount and you find a buyer for a higher price. Now this is all fine and dandy if everything comes toghether but what if the house doesnt sell and goes to auction? who is liable? If a seller signs a disclosure stating that they know the house can still get foreclosed on then are you or your co. liable as trustee? Who does the foreclosure go against? Thank you
[ Edited by ZinOrganization on Date 10/18/2006 ]
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