We closed on a short sale listing in NW Indiana 95 days after the offer was accepted by the seller.
HAFA Short Sales have another layer of approval needed to close escrow.
We listed a Valparaiso, Indiana Property for Sale Subject to Lenders Approval of a short sale in which the seller met the guidelines for a HAFA Short Sale.
After the Short Sale Approval, Buyer's Appraisal came back that home needed a new roof.
Message from the short sale negotiator (servicing company) was not hopeful :
While I have been advised by my manager that it is unlikely that HUD will approve the variance we're requesting, I agree with you that it is our best option. However HUD has not yet responded to the variance.
...Jeff called HUD himself and initiated an escalation process that did get the needed Variance approved!!!
Home is SOLD!
We are grateful for the patience of the buyers agent and clients involved as this transactions obstacles caused a delay in closing, but was overcome by all parties involved working together!
Lesson learned = Due diligence upfront !
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