I have a short sale. The auction was today. If I get a buyer for the property and have the homeowner use his right to recall (30days in OH), what will be the price of the property?Will it be sheriff sale price or the price that the bank agreed on for the SS or the total default debt amount?
Anyone know the procedure for recallling the property?
If you have a solid short sale package in play you can usually get the lender to ask have the trustee grant a 1-2 week stay of execution on the foreclosure sale. Call your Loss Mitigation Agent at the lender or above the lender if you get nothing there.