Help!! Short Sale Two Houses Away for my first deal!

[Preston Dahl]

Preston Dahl

HELP!!! I have an awesome short sale opportunity on a house that is being foreclosed on two houses away from me. How do I do a short sale? Can anyone provide sound advice or point me in the direction of a good resource? I am competing with one other person in the neighborhood and he is advising her to put it on the market with an agent??? does not sound right

[Minna Reid]

@Jaime Caprietta Short sales do not work that way. If this is in fact a short sale, the lender will require the property be listed. Buyers do not just call the bank and work a deal. There is pretty significant process involved that will be managed by sellers agent or attorney to get the approval. The OPs first step should be to determine whether this is in fact short. If it is, then the seller needs to seek yes - a realtor- with experience in short sales to get this moving along. OP can certainly make an offer on the property, but there is no skipping the entire short sale process which includes listing the property.