Home Buying in California>Question Details

Anne.smith, Home Buyer in Sunnyvale, CA

Conditional Short sale letter below: Can we go ahead and close on the house ? Should we wait for final approvalor not?

Asked by Anne.smith, Sunnyvale, CA Wed Jul 20, 2011

"The purpose of this letter is to let you know that Wells Fargo N.A has conditionally approved your request for a short sale. This approval is valid for a sale in connection with the above referenced buyers for a sale closing by xxx date, if not closed by xxx date you will need to get a new approval letter from Wells Fargo. This short sale letter is conditioned on your compliance with all short sale guidelines which have previously been provided.Short sale approval will not be final unless and until a final short sale approval letter has been executed by Wells Fargo and written acceptance of the terms of the final short sale approval letter is made by you.If a signed copy of the final approval letter is not received by the required due date and/or is altered in any manner, the approval becomes null and void.Only upon satisfaction of all the terms in the short sale approval letter will Wells fargo release its mortgage or deed of trust on the property.

Help the community by answering this question:


You should weigh your options and speak with a real estate attorney and a CPA.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Thu Jul 21, 2011
Great ? for you to talk to your agent, the bank and consult with an attorney as well.

Good Luck
Web Reference: http://www.VegasDawn.com
0 votes Thank Flag Link Wed Jul 20, 2011
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