Loss Mitigation Wants A Copy Of A Listing Agreement
What's the best way to go about getting this done. The seller hasn't listed the property, b/c she can't afford to pay the commissions. The bank said tha they need a listing agreement to prove that the seller has been trying to sell the property. What now? There is no listing agreement, yet GMAC said this is required to get the sale approved. Also, this is an FHA loan...is there anything else I shoud be concerned about? Thanks in advance for you responses....
Comments(0)
The FHA exacts implicit criteria for it's loan servicers' consideration for short sale. Play by their rules or play somewhere else.
List the property with a realtor GMAC pays the commissions. not the seller.
do they want a copy of the listing agreement, or will they actually go into the MLS and see if it's listed?
Hi vcrindc,
They would request the listing agreement. The bank would NOT have access into the MLS!
Hope that helps!
BAMZ