Short Sale Help Needed

[Georgia H.]

I received a call from a client who has a 2 bedroom 1 bath condo in Bladensburg, MD. They have a renter in the place who has not paid the rent for a little over a year. They are underwater and would like to know if GJD is interested in buying. How do/should I proceed from here? Any thoughts? Any particular questions I should be asking them? They have not paid their condo fee for about a year and they are ready to sign the contract over to us. Would this be a short sale? Do we have to deal with their lending institution?