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The Land Lab
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Genesis Lite
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Jul 7 •
Novation
Has anyone had this problem on a novation. Look to double close on B-C. Inspections are this week and lender for B-C wants a copy of the A-B. The title company does double closings. But today my realtor that has the novation listed is telling me the lender for the buyer we have in place is asking for the A-B agreement. Should I send the agreement with purchase price redacted?
2 likes • Jul 30
@Lizzy Digit I should close this deal next week. I'll post when I close. What I learned is you can double close a conventional loan. It will be hard to double close on fha or va loan because of seasoning. If you accept a offer with those loans you will have to do a novation. We're just waiting on a CTC from lender to close. Termite inspection, home inspection, and appraisal checked out. Hope this helps
2 likes • Jul 30
They didn't accept redacted a to b. We sent them unredacted a to b. They were cool with a to b as long as appraisal came over b to c
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