In a short sale transaction, Wells Fargo works with the listing agent designated by the homeowner as an authorized third party. We provide process information. We’re pleased to have the opportunity to work with you on potential short sale properties. If you’re not familiar with a short sale, it’s when the property is placed. As relates to a certain real estate purchase contract dated _____ j_____ j_____ concerning the This Short Sale Affidavit (“Affidavit”) is given by the Seller(s).
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This is expensive and has not worked out well for me. Thanks for your help and adfendum on this. Post was not sent – check your email addresses! Seller authorizes the Buyer to enter into a sales agreement to resell the property during this escrow period.
Skip to page content. Again, the problem is teh banks Wells Fargo’s addendum which trumps the original contract. Have your negotiator go back and “define” what they mean by flipping and just explain you do intend to resell the property for profit. We need to determine the property value early in the process. Join the millions of people achieving financial freedom through the listiny of real estate investing.
A Wells Fargo customer owns and is selling the property. Buying a Wells Fargo real estate owned property. Community benefits Neighborhoods are stabilized through occupied and maintained properties.
Advendum luck, let us know as soon as you hear a response! However, due to its ambiguity, it has a side effect that keeps investors from doing back to back closings as well ans possible any reselling activity. The homeowner seller must demonstrate a financial hardship to be eligible for a short sale.
Continued efforts to streamline the amount of documentation required to complete a transaction.
View all Local Real Estate forums. Once you have obtained a response under one of the options above, take it to your title company to see if they will help you will a double salf.
Real estate agent benefit You help customers get into homes. Send in the SS addendum signed with a written addition stating that your are an investor intending to make a profit and are invoking your rights to resell the subject property once your on title. Full Name Use your real name. Log in Email Password Forgot password?
Wells Fargo Short Sale Addendum
I am an investor and I do intend to buy and resell for a profit. Wells Fargo presents the offer to the investor who holds the mortgage, and negotiates the minimum net proceeds fxrgo the investor will accept.
Originally posted by nationwidepi: A short sale must be an arms-length transaction. These suggestions make no sense as they have no chance of getting apporved by the selling lsting. The buyer must obtain financing approval, or show proof of funds if purchasing with cash.
When faced with a situtation such as Alex’s and banks that have dug their heels in on the flipping wouldn’t the most expeditious course of action sgort be to go right to the A-C and get a fee from C.
Wells Fargo Short Sale Addendum
I have yet to see the actual addendum, is it part of the approval letter? Get the book now.
Did the contract not state up front your intentions where to re-sell the property for a profit? Get short sale salle, training, and updates You are leaving the Wells Fargo website and entering http: Any lawyer will telll you, once your on title, the former lender cannot dictate its policies.