Short Sale-Early Occupancy
Hello! I have a buyer who is waiting for a short-sale approval on a home. Everything else is done. Financing is in place, appraisals & inspections have been completed, and all documentation has been submitted to both banks. We were ready to close before the end of the year. BUT! We just got word yesterday that the seller's bank sold the loan to another bank! Now the buyer is interested in an "Early Occupancy" option for this home since they fully expected to be in there before the end of the year and gave their landlord 30 day's notice.
They're concerned that if they move in and move forward with the short sale process that the new bank might decide not to accept a short sale and they will end up being without a home.
Any advice?