Why Get The Deed?
What is the advantage of getting the deed when working on a pre-foreclosure/short sale property?
What possible advantage will this give you in negotiating with the bank?
Aren't banks negotiating with the presumption that no title transfer has occured?
Thanks in advance! :-D
Yeah... I was asking that question a few posts back here in CA you can't touch the deed until the five day waiting period has past.
Some have said get the deed a soon as poss after that but don't record it ,others say get it after all negotions have happened. Some say the banks won't deal with you if you gotten the deed before negotions but I have talked with a loss mit rep and she said the short seller could have the deed in his or her possesion prior to negotiations. I asked another guy versed in ss and he said it could be conveyed at any point before after during etc.
I guess every bank is a little different