by ILGM Ninjas | Feb 7, 2013 | Backup Offer, Real Estate Advice, Short Sales
If the bank does not approve the contract, and submits a counter, and the buyer subsequently walks, then the seller will not necessarily have to relist the property. Once the current contract is canceled, the seller can accept the new offer and it will be submitted to...
by ILGM Ninjas | Jun 6, 2012 | Short Sales
Bank of America has announced that it will provide up to $30,000 in relocation assistance to delinquent borrowers who cooperate with the bank in obtaining a preapproved short-sale price prior to submitting an accepted offer. The qualifying short sales must be...
by ILGM Ninjas | May 27, 2012 | Short Sales
I wanted to share some thoughts on CalHFA short sales. They are different from other lenders, and are very strict on how the calculate hardships. I’ve heard, time and time again, from colleagues, that CalHFA never approves short sales. If a borrower’s...
by ILGM Ninjas | May 11, 2010 | Buyers, Negotiations, Short Sales
Someone asked me today if it made sense to make a back up offer on a short sale. I think it’s a good idea. Short sales can take an average of 4 to 6 months to get lender approval. Several lenders are currently rolling out new systems in hopes of delivering short...