Asked by Tom, New York, NY • Wed Feb 25, 2009
I'm looking to buy a house through a short sale. My offer has been taken to the bank through a broker months ago, but we have yet to hear word from the bank.
The owner can no longer keep up with the utilities and is soon moving to a friendâ€™s home to live rent-free. â€¨â€¨The home is in a semi-depressed area and both the owner and I are worried about what would happen to it if left unoccupied. â€¨â€¨If I were to rent the house, or â€œhouse-sitâ€ while we wait for the short sale to be processed would this violate the â€œarms length clauseâ€? â€¨â€¨I certainly donâ€™t want to further complicate the process, however I also really donâ€™t want it to sit empty for an indefinite period of time. â€¨â€¨
Getting kicked out of the house if the short sale doesn't go through is a risk I'm willing to take.
Popular Categories in 10986
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!