Lender says no to deed in lieu

Jul 8, 2008

Lender says no to deed in lieu

We recently received a call from the lender of one of our short sale listings. The seller had decided to give the home back with a deed in lieu. The lender is not willing to accept the deed in lieu and has asked our agent to list the home at a price where it will sell.

A deed in lieu is a way for sellers to deliver property back to an investor in order to avoid foreclosure. In this case it appears the lender would rather accept a short sale over deed in lieu or foreclosure.