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Updated over 14 years ago,

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Last minute snag with BOA short sale

Stephen Gathman
Posted

We are supposed to close on purchasing a BOA short sale this Friday, and the title search just revealed that the sellers has a HELOC also with BOA that they paid off one year ago. However, BOA never sent a satisfaction of lein nad my lender won't close without it.
BOA says it will take up to 30-60 days to prepare and send one. The listing agent is trying to get the contact person at BOA to get it done, but all we have heard is that she will get back to the agent.

The HELOC is definitely paid off, so they should be able to produce something.

Any ideas on how to get this done in time?

Also, Georgia allows for up to a 7 day extension in closing. Does extending the closing date usually cause any problems?

What if they don't get it within the 7 days, is the deal dead? What could be done to preserve it?

Thank you for any input.

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