Is there a Nevada law against a buyer of a short sale property to rent back to the owner?

by **matchitisiw** » Mon Mar 12, 2012 3:52 am

Why would this be illegal?
Marking as interesting.

by **lintun** » Mon Mar 12, 2012 3:55 am

of course not.

by **abelard29** » Mon Mar 12, 2012 3:57 am

The various states do not have laws against such a transaction, BUT you would need to carefuly review any stipulations placed on the buyer by the lender who agrees to such a short sale. For starters, any buyer is required to sign an affidavit that they are NOT related to the sellers involved. Some lenders may have the requirement that the buyer not rent back to the seller as well. You can only check the stipulations involved from the lender involved.

by **aingeni** » Mon Mar 12, 2012 4:01 am

depend what is in the bank contract. bank is taking a loss so they may have guidelines for seller and the buyer.

by **devdutta58** » Mon Mar 12, 2012 4:03 am

no

by **menw** » Mon Mar 12, 2012 4:06 am

no

by **egan** » Mon Mar 12, 2012 4:10 am

The SHARP Housing Program, a non-profit 501c3 allows for this type of transaction. Please feel free to contact me at 866-547-4277 xt 9110. SHARP Housing Program Director of Education, Kris Darney

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