When looking at home listings, Ive seen this from time to time. What does "Terms of transaction subject to Seller's secured creditor(s) approval." tight-fisted when part of a home description?
Answers: In plain English this funds it is a short sale and the edge has NOT agreed to it at this point. The seller are trying to sell for smaller number then they owe but substandard to obtain approval from the dune. They are hoping an actual offer is approved, but do not count on it.
I have one bank counter OVER the asking price. The selling agent flipped when I turned it down..I do not know what she be thinking.
You are better not looking at these homes and looking at REO, homes the bank already owns and have already agreed to sell for said price. Just do not try to low orb their price it is already as below market as they are predisposed to go.
The homes that you describe are priced to lure you contained by, but the seller really does not enjoy any given right to sell for that price.
It usually medium its a foreclosure That generally money that the home advertised is 'upside down' (higher mortgage outstanding than the mart price being asked), and that the trader will need the approval of the lender (probably for short sale) in the past an offer can be standard.
It means that the hawker has borrowed money on the property and the property is encumbered by a lien (secured creditor)
The dealer may not sell you the property unless the creditor approves of the agreement.
In todays solid estate world, that is not a strange requirement.
Answers: In plain English this funds it is a short sale and the edge has NOT agreed to it at this point. The seller are trying to sell for smaller number then they owe but substandard to obtain approval from the dune. They are hoping an actual offer is approved, but do not count on it.
I have one bank counter OVER the asking price. The selling agent flipped when I turned it down..I do not know what she be thinking.
You are better not looking at these homes and looking at REO, homes the bank already owns and have already agreed to sell for said price. Just do not try to low orb their price it is already as below market as they are predisposed to go.
The homes that you describe are priced to lure you contained by, but the seller really does not enjoy any given right to sell for that price.
It usually medium its a foreclosure That generally money that the home advertised is 'upside down' (higher mortgage outstanding than the mart price being asked), and that the trader will need the approval of the lender (probably for short sale) in the past an offer can be standard.
It means that the hawker has borrowed money on the property and the property is encumbered by a lien (secured creditor)
The dealer may not sell you the property unless the creditor approves of the agreement.
In todays solid estate world, that is not a strange requirement.