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6 votes

Short Sale Transactions - Guidelines Revised

Buddy-crop4x3-nose_fixed_comment_thumb Posted By: Steve Babiak, about 1 month ago (Report Spam)
Category: Industry Insider News / Type: News
Source: thefund.com

it is no longer required that “true sales price/value” be disclosed to original lender provided the “right to sell” is disclosed in purchase contract.

Comments

At 01:29AM on October 15, 2009 - Will Barnard said...

Tnanks for posting your bulletin Steve.

At 01:28AM on October 15, 2009 - Will Barnard said...

The main important factro for investors to remember is to DISCLOSE to both parties via the PSA (or option contract) and right on the Hud1, that "This property may be re-sold immediately for a profit" In doing so, and in having both the A to B and B to C transactions stand on their own merit (have their own funding), the transcation is perfectlt legal and legit.