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Updated almost 10 years ago,
What to do?
I was recently called by a homeowner to check out a house they needed to get rid of. We set an appointment, I like the house, we agree verbally to a price, he just needs to chat we his brother because some $$ will be due at settlement to satisfy the mortgage -approx 10k.
I give him a few days to work that out, when we chat again, he says he know needs to do a short sale- Bc the brother will not lend them the cash.
What can I do? It's a 60k purchase for me, and will be a flip for us. My business partner is a licensed realtor. But we usually keep these purchases out of the brokers hands to save $$.
Question
Can we write up an AOS, and present that to his lender? Will they even look at it without the house being listed?
If not, is there any reasonable options you could recommend?