Tuesday, June 10, 2008

Dynamics of Short Sales & Option Contracts

Using the option contract for short sale transactions at the title company may involve a double closing. This is different than a simultaneous closing. You have a double closing at the title company with the notice of option contract that is evident on the prelim title report. When the short sale is back to back with an end buyer who is obtaining fannie mae financing then you must close the short sale using an option contract at the title company.

Option Contract, Short Sales, & Title Companies

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