Hi everyone:
I have a deal almost dying… Here is the situation. I am doing a short sale, ,I got my first leg of transaction secured ( Meaning I will have the money to do a simulteneous closing once My end buyer gets the clear to close… However, the processor that did the loan for the end buyer, never told the Underwriter from the bank that this is going to be a flipping. I never took titile of the property, I was waiting to get the clear to close from my end buyer and get title. Everything was going well until the Underwriter saw that the appraisal was still on the Homeowners name, I have a deed signed and notorized but not recorded. I am planning to call the underwriter tomorrow to explain to her that I have a deed not recorded and if she won’t have an issue that I will be on ttile on Monday and close with the end buyer on Tuesday… I am afraid to raise a red flag with the undewriter… Please help me, I don’t know what to do. I must close by the 5th of december .