Chicagoland Short Sale Case Study: Quick Approval, Delays by Purchaser, Seller still walks away with $3000.00.
Unfortunately, it is the Purchaser, still, that creates the most roadblocks to a successful short sale closing.
As 2016 wound down, the Law Office of Theresa L Panzica, LLC, was able to obtain short sale approval on a file in less than 2 months, the Seller was going to walk away without any tax or personal liability--without paying any fees out of pocket to our office--and with a $3000.00 check upon successful closing to finish out 2016.
However, the Purchaser was not ready with financing in 2016...and was still not ready as 2017 began.
The Purchaser delayed in obtaining financing for months, nevertheless our office successfully extended the short sale an additional five times to allow the Purchaser to finalize their financing and close.
Despite all the obstacles posed by the Purchaser, with the help of our office, the Seller, now in 2017, was able to walkaway at closing with no funds expended for fees to our office, a waiver of tax and personal liability and a check for $3000.00.
If you or someone you know is in an underwater home or in foreclosure, please have them reach out to us to see if a short sale is right for them, please contact us at 773-539-5970 or firstname.lastname@example.org to see if we can start assisting you today with no money down or out of pocket attorney fees for the short sale process.
Please note that every short sale varies and past results cannot guarantee future result. Our office does not provide tax advice.