Notice Of Short Sale Wells Fargo
A notice of short sale is provided from Wells Fargo generally when they are the investor on the note and for other private investors as well. Wells Fargo will complete a Desktop Appraisal and advise the borrower on what to the list the property for. Many times in order for Wells Fargo to order an interior valuation of the home when a Notice Of Short Sale is issued they will require photos and other supporting documents. At times when Wells Fargo is the investor they will not order an interior value. Lately this has caused dismay on quite a few short sales when interior values are not taken into consideration as property’s with major repairs may get stuck with unrealistic valuations.
The notice of short sale also advises on many key aspects of borrower responsibilities and liabilities, as well as the mortgage servicers responsibilities too. These guidelines will need to be met to complete a short sale successfully. We recommend that you read the form thoroughly if it is issued as it discusses guidelines in detail from listing the home, specialized verbiage, the short sale process, potential liabilities, and time frames.
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