As a short sale buyer in PA. It sucks. Cash buyer. Agreed exactly to their asking price. Waited from 24 Feb until 7 Jun. Now we find out that the bank wants the seller to sign a $7,000 promissory note to be paid back over 72 months. Seller says 'no way.' Where does that put us? Having to GIVE the seller $7,000 of walk with nothing after all of this time. The sale was contingent upon the bank approval. Bank approved but seller doesn't want to accept ANY responsibility.
@sunsetsrgood The situation is the same whether in PA or outside PA. The time it takes to get an approval is also the same in all states, but sometimes you get approvel sooner depending on the bank, the workload at that time & follow-up tenacity. Unfortunately, the seller agent should have convinced his client that signing a $7,000 note is better than being foreclosed. It is silly not to do that since he will also be liable for the deficiency in the case of foreclosure; maybe more than $7000.
As a short sale buyer in PA. It sucks. Cash buyer. Agreed exactly to their asking price. Waited from 24 Feb until 7 Jun. Now we find out that the bank wants the seller to sign a $7,000 promissory note to be paid back over 72 months. Seller says 'no way.' Where does that put us? Having to GIVE the seller $7,000 of walk with nothing after all of this time. The sale was contingent upon the bank approval. Bank approved but seller doesn't want to accept ANY responsibility.
sunsetsrgood 1 year ago
@sunsetsrgood The situation is the same whether in PA or outside PA. The time it takes to get an approval is also the same in all states, but sometimes you get approvel sooner depending on the bank, the workload at that time & follow-up tenacity. Unfortunately, the seller agent should have convinced his client that signing a $7,000 note is better than being foreclosed. It is silly not to do that since he will also be liable for the deficiency in the case of foreclosure; maybe more than $7000.
DKCachuela 1 year ago
(uuuhh)said 67 times.
NoelLeon21 2 years ago
I am not trying to be confrontational, but how were you vicitmized? I am glad you were able to get your situation resolved...
ShanteeHaynes 3 years ago
Thats a really awesom video! Keep making more!
HigherDevelopment 3 years ago