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As the shortsale seller, do I have to share approval letter with buyer?

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Radiance

Junior Member
What is the name of your state (only U.S. law)? FL
I listed my home for shortsale, got 4 offers, Bank approved my shortsale and fogives deficiency.
But now, the buyer's bank is requesting a copy of the shortsale approval.
I am told by my real state agent I am in no obligation to share that information with the buyer and that there is a risk they will use that information to try to lower their offer.
Even the title agency politely denied to provide that information because it is my private information as the seller.
The title agency already notified the buyer that they are authorized to release the title for X amount, it is not the buyer business if I owe them deficiency or how much did I originally owed them.

Is this right, am I in obligation to share my shortsale approval letter with the buyer? The buyer is nowhere mentioned on my approval letter
 


HomeGuru

Senior Member
What is the name of your state (only U.S. law)? FL
I listed my home for shortsale, got 4 offers, Bank approved my shortsale and fogives deficiency.
But now, the buyer's bank is requesting a copy of the shortsale approval.
I am told by my real state agent I am in no obligation to share that information with the buyer and that there is a risk they will use that information to try to lower their offer.
Even the title agency politely denied to provide that information because it is my private information as the seller.
The title agency already notified the buyer that they are authorized to release the title for X amount, it is not the buyer business if I owe them deficiency or how much did I originally owed them.

Is this right, am I in obligation to share my shortsale approval letter with the buyer? The buyer is nowhere mentioned on my approval letter
**A: generally the letter should be given to the Buyer.
 
Why would a buyer purchase a property which could still be subject to your mortgage? If I were buying a house I'd want to be sure that after I paid, it would be mine.
 

Radiance

Junior Member
If I were buying a house I'd want to be sure that after I paid, it would be mine.
They do have a letter from the title company stating just that.
It says my bank has approved for them to release title after buyer pay.
That should suffice
 

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