Are Approved Short Sale Asking Prices Negotiable

[Ossie Moore]

I am educating myself on buy-n-hold investing. As part of that, I have been watching zillow/trulia listings, the BP market place, craigslist, several local property sites, etc. I have a question about short-sale properties. When a listing is offered at a price that is a "lender approved" short-sale price, is it likely that that is the bottom line price or is it just a likely that is an indication that the lender is willing to negotiate further? I am asking because I'm keeping in mind a 70% ARV goal.

[Mike Hanneman]

All that means is that the lender approved of the borrower to sell at less then what is owed at that certain price.

The price is still negotiable however, the seller will just have to go ask the lender if they will approve of that selling price. Depending on how the lender responds the seller has some options. They can approve of the lower price and then they would have to come to closing to make up the difference.