I have a client who is working with a lender on a new purchase through his wife who was advised to submit a John Doe offer just to get a short sale approved and than substitute a real name if and or when an offer is received
there is no way I am willing to do that......
but my question is this.......
how would you reply to that request from a client?
tell them no. If found out, you can get black listed from the lenders (I've seen it happen) regardless, if you do get an approval with the fake offer, you cannot just "substitute" the new offer anyways, the lender will re underwrite it unless it is a HAFA deal.
Bottom line, price it correctly and you should have multiple legitimate offers quickly, pick the strongest offer and submit.
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