lien holder: Short Sales and the Second Lien Holder
- 02/25/10 11:59 AM
I was the buyer's agent on a short sale that went to settlement, yesteday, February 24th. Overall the transaction went very well. The listing agent negotiated the short sale, kept me updated weekly and the entire deal from contract to settlement took a little over three months. Not bad for a Short Sale. However, the second lender gave us three weeks from approval to settlement while the first lien holder gave us five weeks. We could have gotten it done in the three week time frame had we not been inundated with snow. As most know, when the Washington DC area … (4 comments)
I was the buyer's agent on a short sale that went to settlement, yesteday, February 24th. Overall the transaction went very well. The listing agent negotiated the short sale, kept me updated weekly and the entire deal from contract to settlement took a little over three months. Not bad for a Short Sale. However, the second lender gave us three weeks from approval to settlement while the first lien holder gave us five weeks. We could have gotten it done in the three week time frame had we not been inundated with snow. As most know, when the Washington DC area … (4 comments)
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