Help! How Do I Get More Time To Payoff The Lender In A Short Sale????
I have a good deal, but my buyer cannot close in the period of time in which the seller's lender is requiring the short sale payoff to be made.
Does anyone have some good suggestions to stall for more time with the lender??
Any advice is greatly appreciated!!
Martin
This is not really a stall for time but... try asking them what the per diem charge is going to be for every day beyond the deadline date.
It often happens that the mortgagee short sale approval will expire before a closing can take place... so,
I've often asked that the mortgagee accept a non-refundable payment of $X (represents one month PITI + legal fee)
as consideration to extend the approval by 30 days.
[addsig]