Frequently Asked Questions

Can Empire of America finance the purchase of a property through a short sale?

Yes, Empire can finance the purchase of a short sale property. Unique to these transactions is the fact that the lender of record on the subject property, in fact all lenders on the subject property, will need to approve the purchase price and sign the real estate purchase contract.  As the property is selling for less than what is owed on the property, and the lender(s) of record are taking losses to be repaid their principal balance, these bank(s), associated with the subject property short sale must approve the transaction (they will issue an approval letter).

Once these approvals have been obtained, the new purchase financing may conclude, and the purchase of the short sale property completed.


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