Home Buying in Clinton>Question Details

sharp.kirsten, Home Buyer in Clinton, MD

Does anyone know about Green Tree being a Third Party Approval???

Asked by sharp.kirsten, Clinton, MD Sat Aug 24, 2013

I recently put a contract on a house that the seller accepted and the house is a short sale. It states that the house has to have a third party approval through Green Tree. I have never heard of them and wanted to know how fast do they move. Im working with a great realtor but Im just extra curious?????

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Grreen Tree is a servicer of delinquent mortgages. Their short sale approvals times are pretty much average. The last short sale I completed with Green Tree servicing the 1st mortgage didn't close on time because the Buyer's lender was not ready by the approval deadline. Green Tree refused to approve an extension without penalty fees. It added about two months to the closing and ended up costing the Buyer over $800 in late fees to Green Tree along with other charges. Be careful if you need a mortgage that your lender can get the job done and meet deadlines.
2 votes Thank Flag Link Sat Aug 24, 2013
Hello Kirsten,

Ultimately, the decision to accept your purchase contract will be made by the asset manager from Green Tree. In order for the transaction to close in a timely manner, the agents Iinvolved must reach this asset manger. You also have to keep on them until the contract is reviewed and deemed acceptable to the bank. With hard work and perseverance, third party approval can be had in 30 days with an 80-90% succes rate.

Watch my video regarding short sales listed under my blog!


Sincerely,
0 votes Thank Flag Link Sat Aug 24, 2013
Hello Kirsten,

Ultimately, the decision to accept your purchase contract will be made by the asset manager from Green Tree. In order for the transaction to close in a timely manner, the agents Iinvolved must reach this asset manger. You also have to keep on them until the contract is reviewed and deemed acceptable to the bank. With hard work and perseverance, third party approval can be had in 30 days with an 80-90% succes rate.

Watch my video regarding short sales listed under my blog!


Sincerely,
0 votes Thank Flag Link Sat Aug 24, 2013
Hello Mrs. Sharp,


James hit it on the head. just make sure you guys and the sellers adhere to the deadlines and your closing to should go relatively smoothly.
0 votes Thank Flag Link Sat Aug 24, 2013
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