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Updated over 15 years ago, 05/29/2009

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4
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J B
  • Real Estate Investor
  • Select a State
0
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4
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I need help with this deal!! What is the best way to close this one?

J B
  • Real Estate Investor
  • Select a State
Posted

Hello, Can anyone help? I'm stuck!!! I have just finish a short sale and it is ready to close. But I'm not sure the best way to close on this deal. When I started this deal I thought that I would be assigning my contract to the buyers, I was told that since the end buyers are funding with a conventional loan that there might be a problem with their bank releasing the funds because of the assignment of contract.

I did some research on the web and found some good ideas but one of those ideas really got my attention, not sure if this will work. One person said that I could have the closing company add my fee in the "Title Charges area of the HUD statement (in the 1100 section) add a line that says Clear Title and your company name (other than the company doing the negotation - perhaps a sub company of yours). If they question it just let them know that this was the fee to clear the title. Most likely it will not even be questioned and will be paid." Has anyone ever closed a short sale in this way or have any ideas on how I can get paid from this deal.

Any pointers anyone
Please Help!!!
Thanks

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