All Forum Posts by: J B

The A-B trans is $530k with a end buyer to pay $620k this property is in VA. But the house appr. at $990k in 2007.

Thanks for you guys help.The spread from B-C is $80k. I was wondering have any of you heard a transactional funding company that would allow you to hold on to the property for seasoning. By the way what is the usual time for seasoning on a conventional loan.

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

Hello, Can anyone help? I'm stuck!!! I have just finish a short sale and is ready to close. When I started this deal I thought that I would be using my assignment of contract for but, I not sure how to close at this point to insure that I will get paid, because the end buyers are funding this with a conventional loan and there might be a problem with there bank not releasing the funds because of the assignment of contract.

I looked around the web and found some good ideas but not sure if it 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."

When I spoke with my title company they suggested that I put it on the buyers side of the hud on the 507 or 508 section. But after talking further with her i'm not sure she knows what she is talking about. Has anyone ever closed and got paid use this method for securing your interests in the property.

Any input would help thanks