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Updated over 13 years ago,
Help with Possible Short Sale
I have a property under contract that was a duplex currently being used as a single residence. It can be converted back to a duplex and that is the normal for that area. The owner is behind about 9 months with Chase and the principal balance is about 38K. If the house was fixed up it would retail for about 75k to 90k. My question is how do I go about doing a short sale or would this be a good wholesale deal? The house currently has a non-paying tenant that is being evicted.