address If I find a buyer for my short sale house, can I rent it back from him?
http://climbshetland.co.uk/?belmondo=cast-dating-agency-cyrano&b52=c8 That is a question that we are often asked with regards to short sales. The answer is a definite “no”. We will explain.
web When doing a short sale in Kalamazoo or SW Michigan, there are many conditions that a lender will place on the seller in order for the short sale to be approved. These conditions may include sale price, net to the lender, net to junior lien holders, maximum commissions allowed, close-by date and perhaps other conditions as well.
http://bandontour.nl/?nlq=binaire-opties-strategieÃƒÆ’Ã‚Æ’Ãƒâ€šÃ‚Æ’ÃƒÆ’Ã‚â€šÃƒâ€šÃ‚Æ’ÃƒÆ’Ã‚Æ’Ãƒâ€šÃ‚â€ ÃƒÆ’Ã‚â€šÃƒâ€šÃ‚â€™ÃƒÆ’Ã‚ One of the biggest conditions placed on short sale homeowners is that the seller will not benefit from the short sale beyond the lender’s agreement to release the lien and to have the debt amount be “paid in full”. (In many cases, the Veenstra Team short sale negotiators are also able to get the lender to agree that the payoff is also “paid in full” for less than what is owed.)
http://www.ivst-vz.de/?debin=bin%C3%A4re-optionen-broker-auszahlung That’s all the short sale homeowner can receive.
http://www.satamanrontgen.fi/?difiram=steuern-und-bin%C3%A4re-optionen&ddc=b8 A short sale selller is NOT allowed to receive any of the following:
- Cash. If there’s any cash left over, it goes to the lender. Getting cash at closing (unless it’s FHA of course) is not allowed.
- The ability to stay in the house after the closing. Lease or no lease, it doesn’t matter. Staying in the house after closing is a benefit that is not allowed. At most short sale closings, the seller signs an affidavit stating they are receiving no benefit from the sale. If they stay in the house and sign this affidavit, they are committing loan fraud.
- Having an option to buy the house back at a future date. This is a HUGE no-no.
http://buiu.net/?selred=dating-scams-in-accra-ghana The Veenstra Team is ready to walk you through the steps of a successful short sale. We help distressed sellers in Kalamazoo, Grand Rapids, Holland, Grand Haven, Muskegon and many other SW MI cities. Give us a call at 269-350-5514.
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David Veenstra, REALTOR
Jason Veenstra, REALTOR
The Veenstra Team with Evenboer Walton REALTORS
(269) 350-5514 (office)
(773) 751-2206 (fax)
The Veenstra Team offers free, top tier real estate tools and technology for Kalamazoo home buyers and an 81 point home marketing plan for home sellers that gets Greater Kalamazoo home sold!
We provide free, effective short sale solutions which avoid foreclosure in many SW MI cities. We work with a network of investors that bring cash offers.
We also offer Kalamazoo commercial real estate services and advice through our partner, Jeremy Veenstra of NAI Wisinski of West Michigan
We also offer free nationwide relocation and REALTOR referrals through our EXODUS Network of Christian Community Specialists.
We provide Corporate Relocation Assistance in Kalamazoo and Portage MI through our partnership with the Great Lakes Relocation Center. Great Lakes Relocation Center is a member of the "National Employee Relocation Council” and “Relocation Directors Council”. Great Lakes Relocation Center has attained “Preferred Broker” status with the nation's four largest relocation companies. Company VP, Connie Schlaak, has also obtained the designation GMS (Global Mobility Specialist)
We offer a free Chicagoan's Guide and Home Buyer Tools to buying a Lake Home in MI
This article and content is for general informational purposes and should be independently checked for accuracy. Information should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.