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Short Sale House Buying

Hello, I have following question regarding short sale House purchase.

I offered the short sale House in NJ and finally Bank accepted my offer.
Bank wants to closed by 02/10/2009. My Mortgage lender can not close by 02/10/2009 due high volume of refinance they can close by 02/20/2009.
This is Two family house and two tenants living in the house , they have month to month lease.Can i close with tenants or without tenants? What is best option ?

i did inspection last week and appraisal should order by Friday this week.
initially Seller accepted our condition ( vacant the house on closing)

Thank you
Nick



 
  • January 21 2009 - Saddle Brook
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Answers (1)

Closing with or without tenants will depend on if you are getting your loan (and intend to hold) the property as an investment or not.

If you need a close of escrow extension I would submit an addendum to the bank and make them aware.

  • January 21 2009
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