short sale approved seller still has costs and no money: Short Sale Approval does NOT mean Seller won't have any out-of-pocket expense. - 07/28/08 12:04 PM
You have a transaction pending short sale approval, and that lucky day FINALLY arrives when you get the fax that says, "APPROVED".  Is your Seller 100% in the clear?  Most Agents would answer, "yes" however the answer is, "no".
Just because you're approved doesn't mean that your Seller won't have a potential chance to have to bring in funds to close.  More and more Lenders are approving the sale BUT not approving all of the Seller's costs.  The lenders are not willing to pay ALL of the debt that the Seller has incurred against the property (ie; unpaid property taxes, hoa … (14 comments)

 

Nancy Neilen

Rancho Mirage, CA

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Hartford Escrow

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