I am trying to short-sale my property, and I got in contact with a company that specializes in buying short-sale properties. They are asking me to deed the title over to their company while they negotiate with my lender. I don’t feel comfortable signing away the title before the sale is approved, so I’m not going to do it, but I was just curious if this is normal procedure for a short sale.
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 During A Short Sale, Does The Title Get Deeded Over To The Seller Before The Lender Approves The Sale?7 comments to During A Short Sale, Does The Title Get Deeded Over To The Seller Before The Lender Approves The Sale? |
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Don’t do it! If you are successful with a short sale, you will deed the property to the new owner, after your mortgagee (lender) has approved the sale.
realtor.sailor
Don’t do it…that’s a scam. Go through a good realtor in your area that has done several successful short-sales. Keep in contact with your lender and tell them you have your property listed to sell, but you have to do a short-sale.
NO WAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! do not do anything until the bank approves. which it could take some time.
Be patience.
This is a perfect example of someone who is trying to take advantage of the ‘desperate’ and try to convince you to do something you NEVER otherwise would even consider. Yet it happens every day.
Don’t even consider signing it over no matter how nice or how convincing they seem.
I agree with Glenn S and you should be represented by a great agent who actually knows what they’re doing. You can contact us and we’ll connect you with an agent in your area who is very adept at Short Sales and the negotiation. 714-423-3158
NEVER sign the deed over untill you have releases in hand for loans in question, and a deed ready to go to the buyer.
that is a con job approach. I was asked to do the same thing
years ago.
NO WAY.
try offering PART of your home for sale as an investment!
Sounds like a scam – don’t do it. You should work any short sale directly with your lender, not some third-party company.