Strategies for a pre-foreclosure/short sale

[Ian Efron]

Hello all,

I live in Texas. I recently had a call back from some letters that my wife and I sent to some pre-foreclosures. The auction is on February 2nd. We planned a meeting with the seller tomorrow. Here's the catch: I looked on HAR to get some comps and the property is currently listed as a short sale. Spoke with my agent and they said that the seller has no option now. The bank has all control as it is a short sale. To make matters worse, the sellers agent is very difficult to deal with, and the seller does not get along with them at all. Not sure when the listing contract is up either. What are some of the options I have besides submitting a market value offer to the bank? Thank you all!

[Wayne Brooks]

A short sale is it, period....or buy at the auction....or buy as a REO if the bank takes it back at auction. Nothing else, prior to the auction.