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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: short sale Posted by Greg on August 17, 2006 at 3:01 PM In Reply to: short sale posted by Brad Butler on August 17, 2006 at 1:49 PM : When buying from the bank "short sale" .You are negotiating the price with the bank, so does that mean nobody bought it at the N.T.S.? NTS is the notice of trustee's sale. If you mean nobody bought it at Trustee's sale then it sold to the beneficiary (bank) and is now an REO. This would no longer be a "short sale" transaction. Can you do a short sale prior to N.T.S. or N.O.D.? Yes, depending on the lenders guidelines. Can you assume that loan? Depends on lender guidelines, loan assumability. Do you need a pre-qualified buyer ready to go prior to making the offer? Most likely, yes. Do you need money down? That would probably help. : Any answers and a break down of the short sale process would help. : Thanks, : Brad Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : When buying from the bank "short sale" .You are negotiating the price with the bank, so does that mean nobody bought it at the N.T.S.? : NTS is the notice of trustee's sale. If you mean nobody bought it at Trustee's sale then it sold to the beneficiary (bank) and is now an REO. This would no longer be a "short sale" transaction. : Can you do a short sale prior to N.T.S. or N.O.D.? : Yes, depending on the lenders guidelines. : Can you assume that loan? : Depends on lender guidelines, loan assumability. : Do you need a pre-qualified buyer ready to go prior to making the offer? : Most likely, yes. : Do you need money down? : That would probably help. : : Any answers and a break down of the short sale process would help. : : Thanks, : : Brad Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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