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Updated over 14 years ago,

User Stats

48
Posts
4
Votes
Tom Medwin
  • Select a State
4
Votes |
48
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ASC - No Resale for 30 Days???!!!

Tom Medwin
  • Select a State
Posted

I got my approval letter from ASC today and it says the following:

"If closing agent has any knowledge of any sale or transfer of property within 30 days of this transaction, closing agent must immediately notify lender prior to closing, funding and/or recording."

My attorney and title company agreed that it doesn't say I can't resell immediately, but if I do they would be obligated to notify the lender and that I'd risk the lender "unwinding" the deal.

Thoughts please???? Is it worth trying to negotiate that out of the approval letter? Any other ideas? Thanks in advance!

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