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the bank has leaned us for nonpayment and i have a buyer to sell the property we have details worked out almost ready to close and one of my partners has a lean on him that just showed up our attorney says he has a conflict and we all have to find a new lawyer, not sure how to get this deal closed and not lose the buyer can't find a lawyer who will pick up this detailed mess. The building was orginally purchased by our corp with SBA backing and 4 people cosigned now they have leaned all four. How do I close this
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From your post I cannot tell what the problem is. If the building is owned by a corporation, the debt on one owner should not be relevant. The question is whether you have bank approval or not. And if not, why not. I have handled many short sales. It is not rocket science -- either you meet bank conditions or you do not.
There is something screwy. Call me in the office at 212-721-5300.
Answered on Mar 24th, 2013 at 8:55 AM