Name Of Purchase Contract, When Sending Short?
i have a question about the name you put on your purchase contract when you are going to negotiate a short. on the last property we shorted we were skeptical about putting are company names on it, so instead we put our personal names, in case the bank would think somethings up, but then at closing we had the property deeded to our companies. has any one had any problems putting there comp. names on the contract and sending to the bank? i know there is more of a chance that the bank would be skeptical about this but i just dont like signing contracts with my personal name. any help would be appreciated.
On a seperate note but which also deals with the purchase contract with the seller. will the bank want to see the same price on it as your offering them or is writing in "subject to short sale" in as the purchase price better? or will it give the bank reason to kill the deal? i have heard the bank killing shorts for odd reasons.[ Edited by ZinOrganization on Date 11/28/2004 ]
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