Posted on: 16th Sep, 2010 01:58 pm
I want to buy a house that is a short sale. Made an offer
but the seller won't tell the bank about it, because he wants a DIL. Is the seller obligated to tell the bank? Is it possible for me to let the bank know that I would like to buy this property? Why is the property still for sale if we can't even get the bank to know of the offers? Help..I really like this home.
but the seller won't tell the bank about it, because he wants a DIL. Is the seller obligated to tell the bank? Is it possible for me to let the bank know that I would like to buy this property? Why is the property still for sale if we can't even get the bank to know of the offers? Help..I really like this home.
Hi Guest!
Welcome to forums!
The seller can always let the lender know about his discretion as to whether or not he wants to go for a deed in lieu or a short sale. Borrowers normally prefer a deed in lieu because they won't remain liable for the mortgage balance after the sale of the property. The property can remain for sale though the bank doesn't come to know about your offer.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The seller can always let the lender know about his discretion as to whether or not he wants to go for a deed in lieu or a short sale. Borrowers normally prefer a deed in lieu because they won't remain liable for the mortgage balance after the sale of the property. The property can remain for sale though the bank doesn't come to know about your offer.
Feel free to ask if you've further queries.
Sussane