Delay Sheriff's Sale
I'm looking at a property, and without going into all of the details, all of the figures look good. However, the Sheriff's sale is set for May 15th and ther loan is with countrywide. I'm in the middle of another deal with countrywide and it's taking them a long time to give me a response. With that being said, is it possible to contact the attorney on the file and see if the Sheriff's sale of the property can be delayed?? If so, that would give me enough time to put the deal together.
Thanks in advance
Chris1220
Chris--
Litterally 5 minutes ago a seller that I've been working with spoke with the attorney and he said the order to delay has to come from the lender. The auction in my case is tomorrow but we've agreed to the short sale. Just a matter of delaying the auction to close.
Get with the lender but you need to sell them that you'll close quickly and you have the abilty to close, etc
Jim
Thanks, I'll call them tonight to see what I can do.
Thanks again for the immediate response. This site has never let me down.
If you are 100% certain that you have the capacity to close.... you can seek to delay the pending Sale by offering a non-refundable payment to delay the closing, usually in an amount that would pay for the lawyer's time (phone call & letter) to execute the order.... a few hundred dollars.
See, with this particular property I'm not that confident, There was a lot more than meets the eye when I first saw it. There is a lot of work to be done and the investors that I have lined up and were interested seem to be a little concerned as of lately. I'll make the phone calls to the attorney and the bank to see what I can do. Hopefully countrywide will have accepted my offer by the end of this week. If not, I don't think I can do it.
But I'm not giving up!!!!!!!