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Vassar Update

19 Mar

Looks like I found a realtor for the short sale. So far she has contacted the bank and is meeting with the seller tomorrow to sign the representation agreement. Technically she will be the seller’s agent but I don’t see that being a problem. She says that her fee will be paid by the bank from the sales price. We’ll see how the sales price changes once she is involved. I will only be able to see what her fee is once I get the HUD statement. Hopefully it won’t become a subject of dispute but I suppose it is a possibility. I certainly don’t want to see a 3% increase in my price because of her involvement.

She also said that I might need proof of funds soon. That might be a problem since the loan isn’t likely to close until a few weeks. I called the bank regarding the investment property loan and some incorrect information on the disclosures. They said to just make the corrections, sign and then submit. They can process from there. I’ll have to stay on top of them to keep this thing moving ASAP.

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Posted by on March 19, 2011 in Vassar

 

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