Soooo confused about how to set up a closing
Okay, when working a short sale and the bank accepts, how do I go about scheduling a double closing with a title company?
Here is a make believe situation:
-Sellers sign contract and other info needed to get bank to work with me
-1st accepts $70,000 on a $100,000 loan
-2nd takes $1,000 on a $40,000 loan
At this point since I dont own the property, is it illegal to meet with my rehabber and put the property under contract with me as the seller?
When the lenders have accepted to short sale and the end buyer is lined up and under contract, what would happen from here in terms of setting up a closing?
What paper work do I need to turn over to the title company to schedule a double closing and what responsibilities do the homeowners have at this point in relation to the closing?
Thanks.