Getsmart86, Home Buyer in Avon, NC

Is it possible for investors in LLC to get a short sale accomplished?

Asked by Getsmart86, Avon, NC Sat May 12, 2012

We are investors that own an Avon, NC. property. It is underwater although we are able to pay the mortgage. We have the dreaded interest only loan.
Thanks
Steve McCauley

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Answers

6
Madonna Vancuren / The M & M Team’s answer
Steve
Call Starkey Sharp/\Attorney, who is handling the Short Sales that are closing!! His number is 1-252-261-2126.
Call Starkey and ask him about the LLC and the Short Sale
Good Luck
Madonna VanCuren
Sun Realty
1-800-801-7861
0 votes Thank Flag Link Wed Apr 24, 2013
You might want to consider a deed-in-lieu back to the bank. Perhaps that would be easier to accomplish.
0 votes Thank Flag Link Mon Sep 10, 2012
All of the answers are correct. Consult with your attorney, your cpa, as well as your lender and of course your favorite Realtor. Best advice is to stick with a Realtor in your own neighborhood.
0 votes Thank Flag Link Mon Sep 10, 2012
Hi Steve,
So many owners are in the same situation. I am working with a buyer on a short sale where the seller had a home in an LLC. The bank required the home to be transfered to an individual prior to the short sale approval.

I would suggest that you consult a real estate attorney to guide you with this situation.

Good luck!!
0 votes Thank Flag Link Sat May 12, 2012
Consult with an attorney who specializes in real estate before considering any short sale....
0 votes Thank Flag Link Sat May 12, 2012
THAT IS A QUESTION YOU NEED TO ASK YOUR PARTICULAR LENDER. EACH LENDER HAS THEIR OWN CRITERIA AND PROCEDURES FOR SHORT SALES.
0 votes Thank Flag Link Sat May 12, 2012
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