Question Details

Jamie Schaef…, Real Estate Pro in 33704

I have heard of negotiation techniques to keep the seller of a short sale property from being issued a

Asked by Jamie Schaefer, 33704 Thu Feb 5, 2009

deficiency judgement - Anyone aware of how to accomplish a short sale without having the deficiency judgement attached to the seller?

Help the community by answering this question:

Answers

2
GREAT QUESTION: you would need to have in writing lender would waive any debt, unless it is writing could be failure in reporting judgement rendered. Many mortgage banks we have worked with waived any additional fees for seller.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Feb 6, 2009
Hi Jamie-

It is a fairly simple process. You must specifically ask for it when working with the bank to get the short sale accepted and make it part of the offer. Just make sure you get it in writing. It should be a part of whatever document the lender is signing to release its lien for the agreed sales price. If you have an attorney you close with reguularly, they should be able to provide the magic language to include in your release document.

Jeff Baillis
Web Reference: http://www.ATLRent2Own.com
0 votes Thank Flag Link Thu Feb 5, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer