When a buyer makes an offer on a Mountain View, or any Silicon Valley Short Sale they ocassionally want to purchase some of the furniture in the house. Sometimes there is a couch that fits perfectly in the family room, or a dining room table that is too big for the seller's new house and they want to sell it. It's ok to do that, right?
NO NO NO NO NO!!!!!!!
Should I say it again? Ok, NO DO NOT DO IT!!!!!
Here is why. The seller is not allowed to have any gain from the sale of the home. The bank gets all the money from the buyer in exchange for allowing the loan to be written down so the seller can get out of his/her obligation. If the seller sells furniture to the buyer it can be considered by the bank to mean that the seller has received money from the buyer. So, if the buyer wants a big table they will have to go to Ikea and buy one. If the seller does not want a couch, put it on Craigslist, but do not sell personal property to the buyer.
If you have any questions about short sales in Santa Clara or San Mateo counties, please feel free to contact me.
Keller Williams Realty
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