Closing a short sale – If you’re a Westfield or Carmel buyer purchasing a short sale, once you finally get short sale approval, the last thing you want to happen is a delay in closing. So, what can be done to assure the short sale closing goes as smoothly as possible?
Review Closing Documents – as your agent, I’ll review the good faith estimate and approval letter from your lender to make sure there are no discrepancies. I’ll make sure that any closing costs the seller agrees to pay are approved by the seller’s lender in the short sale approval letter. If there are any last minute increases in closing costs, I’ll be sure that we have in writing who pays those additional costs.
Double Check Short Sale Approval Letter – before closing, I’ll double check the short sale approval letter, especially if the sellers has two lenders. I’ll make sure both approval letters match in terms of who pays commission, closing costs, etc.
Secure Buyer Financing – problems can also arise on the buyer’s side, so I’ll work to make sure your financing goes through and there are no problems from the buyer’s lender.
Keep Your Fingers Crossed – even with all your ducks in a row, problems can still come up that may delay closing or even cancel it altogether. Stay positive, but understand that no real estate transaction, especially a short sale, is a sure thing.