Aloha, Lance here with Aloha Kona Realty and I wanted to pass on another tip:
11. Do not add more funds than what were approved for the HOA, second lien or any other lien against the property, regardless of where the funds are coming from. Doing so will result in a rejected HUD and possibly a declination of the short sale. The investor does not allow more funds to go to another lien than what they have approved, even if the funds are brought in by another party (buyer, seller, agent).
That comes straight from the mouth of the investors. I cant tell you how many times I have seen other agents, including escrow agents, change those numbers around at the end - thinking it will fly - why not? The investors are still getting the same amount - right? NO-No-no ! The investors are taking the largest hit of all parties, and they want to make sure everyone else takes a hit also. So do yourself a favor, if there are to be any changes - check with the investors first!
Good luck, and if you need a team to help you with your short sales - Please call us. 808-936-8383
Deal of the Day - Cooperative Short Sale in Lokahi Makai
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