When you are doing a short sale negotiation, REMEMBER.... deadlines given by the lender mean something and they are probably not going to entertain a change to the agreed close date or the amount agreed upon.  Now this is not to say they won't change it but do not set your owner/seller or the buyer up to think that you can get one of those most important factors changed.

It so hard to get an approval from a lender, please don't mess it up with trying to change the terms or the closing date.  Negotiate what you want before it is agreed upon. 

AGENTS:  This is why it is so important that you go over the HUD with your escrow officer first so that you understand all the figures on it and that you go over it with the seller so that they understand what is on the HUD before you submit it to the lender.  Because if you miss putting a debt on that HUD you are going to be in trouble come time to close.

SELLER/OWNER: This point is so important to you because it could mean getting the short sale completed or NOT.

The lenders are not all that excited about the short sale, and they will be even less if the numbers change and it is not in their favor.  They are going to be totally bent if you try to change the closing date, unless it is to pull it in and if that is the case you do not need to get back to them on that change.

I have heard of deals dying because of a change in the total to be sent to the lender - they lender is not going to take a short change.  They plan closings and they are not good at changing the date.

Just a reminder.

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Check out my Mother and Daughter Blog for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team and we also focus in Short Sales and the Pre-Foreclosure process.  Our consultations are free.  Our aggressive marketing plan includes progressive on-listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County - includes Stockton, Manteca, Lathrop) and Stanislaus County- includes Modesto, Riverbank); East Bay (Alameda County - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at Perfect Financial Solutions 866-750-8282 or email at US.  Our best connection is our website: http://www.motheranddaughterrealty.com/.

The Mother and Daughter Realty Team

Perfect Financial Solutions - We care about our clients Real Estate needs
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