Sheriff's Sale- Short Sale
I've got a deal on a short sale for a house in GA. The bank says they need the $ by this friday or the house will be sold sheriff's sale. How do I prevent the sale friday? I can get the moneytogether for the short in a couple weeks. :-?
If you have an executory contract with the Owner... and you can demonstrate an ability to close by a certain date (a mortgage loan commitment, or a CD maturity date) they may agree to postpone the Sheriff's Sale and allow you to close the deal.
You may want to sweeten the Offer by offering a non-refundable deposit in favor of the Lender ($2,500, $5,000) if they postpone the Sale by 30 or 45 days....
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