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Updated over 15 years ago on . Most recent reply

Terry Royce's profile image
Terry Royce's profile image
Terry Royce
  • Real Estate Investor
  • from Baltimore, Maryland
  • Member since Jan 13, 2008
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Terry Royce's profile image
Terry Royce's profile image
Terry Royce
  • Real Estate Investor
  • from Baltimore, Maryland
  • Member since Jan 13, 2008
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Terry Royce
  • Real Estate Investor
  • Baltimore, MD
75
Votes |
619
Posts
Foreclosures

Walk me through a short sale?

Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Posted

I understand the overall concept, but can some of you that have more experience give me some advice / guidance on what to do during this process.

I have my authorization from the owners.
I faxed it over.
The property has been sitting vacant, filled with mold and needs gutted. Loan balance is around 15k ARV 110k Repairs 50k

How do I negotiate with the bank?
What should i NOT do?

Thanks

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Justin S.'s profile image
Justin S.'s profile image
Justin S.
  • Residential Real Estate Agent
  • from Chandler, Arizona
  • Member since Feb 12, 2009
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Justin S.'s profile image
Justin S.'s profile image
Justin S.
  • Residential Real Estate Agent
  • from Chandler, Arizona
  • Member since Feb 12, 2009
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Justin S.
  • Residential Real Estate Agent
  • Chandler, AZ
928
Votes |
1,748
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Justin S.
  • Residential Real Estate Agent
  • Chandler, AZ
Replied

Is 15K a typo?

1 Vote
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