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Cooperation is the Name of the Game

February 1, 2018 | By Richard%20 Caldwell

Recently we encountered our most complex transaction yet.

The property was an estate sale and we were representing the seller.

The property was encumbered with a reverse mortgage lien. The buyers were using a full 203K process to buy and renovate the property.

Then we learned that the reverse mortgage company decided to renege on their agreement with respect to closing costs assistance to the buyers.

On top of that the property was further encumbered with a sizable medical lien just before settlement.

Working behind the scenes, the buyers’ agent, lender, short sale negotiator, title company, seller’s agent and the seller all worked together to get the buyers into their new home.

The deal closed only due to the extraordinary cooperation of all involved.