Short Sale And Divorce
In a divorce situation what the best option:
1> Sign a Quit Claim deed from him to her (or vice versa) and deal with him for all future paperwork.
2> Get both to sign the docs. In this case its a longer process since you may have to meet them separately and get signs notarized twice.
You need both to sign the docs if both are on the mortgage. A QC is about the deed only
* Both on mortgage; only him on deed:
get all docs signed by both? How about deed to trustee?
get a POA from her to him just in case you cannot locate her later/ does not want to go for closing!
* Only him mortgage; Both on on deed:
get SS docs signed by him and deed by both?
Thanks!
[ Edited by SKrei on Date 09/02/2007 ]
same in CA, no rights to property other than thru possible lawsuit.
Same in GA. First one to the court house wins. I would say no rights to the property.
Same in Colorado. Unfortunately I think you are out of luck.
Even if the deal could be a great one, walk away with a few wounds, still able to fight another day. If these people are doing you wrong NOW, they will do it again later some other way. I have been tempted to sue people on a number of occasions, but it will only cost lots of money and not really get you anything.
I want to deal with people who want to deal with me. I am a little vain that way. If they dont like me or I dont like them because I think they might be liars or scammers I dont do business with them. Why force them to work with you. Let someone else deal with them. Its hard to do, especially if you could make 10k or 20k on the deal, but really, its not worth it. Walk, knowing you only got taken once, not twice or three times by the same person.
I appreciate everyones input-thank you and good luck on all of your deals.
Should you always record the deed to trustee?
To record a deed in IL you have to buy stamps from the Village; deed to a trust may be exempt but they still have to stamp it. Then go to the county to record; again you may just have to pay $30 or so but its time consuming especially if you are working on multiple short sales!
have your end buyer use Bank of America for financing
Why did you say I should have my buyer use bank of America financing? Please explain