I just received an email from one of my short sale negotiators at a VERY large mortgage bank. Effective immediately, if the home you're selling is in foreclosure proceedings, the contract MUST have a closing date at least 5 days PRIOR to the scheduled foreclosure date (10 days prior in Florida) or the contract WILL BE DENIED OUTRIGHT!!!!
While this is one bank, I would suggest you check with any banks you are currently or intend to negotiate a short sale and see if this applies to them. We all know they have little triggers that will just shut down the contracts - don't let this be one of them.
Your Realtor® in Scottsdale, Cave Creek, Carefree and north Phoenix, AZ
Scottsdale and Cave Creek Real Estate
Dominion Real Estate Partners, LLC
Helping you make informed decisions whether buying or selling homes in Scottsdale, Cave Creek and north Phoenix Arizona. I know the area - I live here.
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