I am trying to short-sale my property, and I got in contact with a company that specializes in buying short-sale properties. They are asking me to deed the title over to their company while they negotiate with my lender. I don’t feel comfortable signing away the title before the sale is approved, so I’m not going to do it, but I was just curious if this is normal procedure for a short sale.
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Tags: Approves, Before, Contact, Deeded, During, Lender, Over, Sale, Seller, Short, Short Sale, Title
6 Responses to “During A Short Sale, Does The Title Get Deeded Over To The Seller Before The Lender Approves The Sale?”
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Filled Under: Mortgage Loan Modification
January 14th, 2010 at 2:32 am
Don’t do it! If you are successful with a short sale, you will deed the property to the new owner, after your mortgagee (lender) has approved the sale.
realtor.sailor
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January 14th, 2010 at 3:10 am
Don’t do it…that’s a scam. Go through a good realtor in your area that has done several successful short-sales. Keep in contact with your lender and tell them you have your property listed to sell, but you have to do a short-sale.
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January 14th, 2010 at 3:24 am
NO WAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! do not do anything until the bank approves. which it could take some time.
Be patience.
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January 14th, 2010 at 4:22 am
NEVER sign the deed over untill you have releases in hand for loans in question, and a deed ready to go to the buyer.
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January 14th, 2010 at 4:25 am
that is a con job approach. I was asked to do the same thing
years ago.
NO WAY.
try offering PART of your home for sale as an investment!
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January 14th, 2010 at 5:18 am
Sounds like a scam – don’t do it. You should work any short sale directly with your lender, not some third-party company.
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