Jeffrey Smith

"Attorney"

I'm a:	Real Estate Professional
Company:	Moir & Ross
Location:	Westfield
Web sites:	MOIR & ROSS
Phone:	(413) 568-1957

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About Me

Attorney, with a focus in Conveyancing.

Representing Buyers and Sellers in Hampden, Hampshire and Berkshire Counties.

First Time Homebuyer Discounts available.

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Should I have a say in the closing date on a short sale?

Asked Mon May 5 2008, 09:12 by M - 02780 - Home Buying - 9 answers

Jeffrey Smith answered:

To further complicate that answer, the bank is under no obligation to accept anything less than what is owed to them. If you are entering into and agreement to buy a property in which the seller does not have sufficient funds to close, there is no guarantee the seller will be able to perform. There are other risks to consider as well, such as rate lock expirations and rate increases. I have handled several short sales in mass and not one has closed in less then 60 days. There are benefits to short sales, but the transaction is much less stressfull if you know the risks going into it. - Tue May 20 2008, 21:32

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