Short Sale Acceptance?
I just got acceptance on a short sale for Washington Mutual. The loss mitigations rep said that they need to send the letter of acceptance to the closing attorney or title company. I asked for a copy but they refused. I have never had this happen to me before. What should I do? Will this hold up my deal?
You should have a closing attorney or title company to do you closing....why is this a problem?
If they must send the approval letter to YOUR closing attorney, or closing agent then that shouldn't really be a problem... simply have your lawyer or title company FAX you a copy..
The only thing that could hold up your deal is if the closing instructions/conditions don't conform to what you had anticipated....
I think it's foolish that WAMU wouldn't provide a copy to you.
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I think it was Chase that would not fax me the approval letter and insisted on faxing it to my closing agent. My closing agent is very competent and I did not ask for a copy. The day of closing the seller noticed that it did not say settlement in full. the seller got on the phone and got with the attorney and the rep and had a new letter faxed in time for closing that did say settlement in full. I know now to always ask for a copy of the approval letter.
Brenda
So the acceptance letter from the lender bank should accept the offer and also indicate that the mortage is settled in full for the sales price accepted?
The acceptance letter a/k/a the mortgagee short sale approval, from the mortgagee should address every item, every condition that you sought.... whatever that might be.
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