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Updated over 6 years ago,

User Stats

58
Posts
5
Votes
Jeff L.
  • Investor
  • (Raleigh Durham area), NC
5
Votes |
58
Posts

Can I use a "Sub To" to Negotiate Short Sale?

Jeff L.
  • Investor
  • (Raleigh Durham area), NC
Posted

I have a seller that has spoken to me at length about selling his home but, on the advice of his attorney, told me he will not communicate with Chase(the lienholder) and will not sign a 3rd party authorization to allow me to negotiate a short sale.

However, if I were to get him to agree to a "sub to", would this allow me to negotiate a short sale with Chase?

The seller said he is "pulling for me" but on the advice of his attorney he cannot communitae with Chase. The house has been abandoned and no payments have been made in for 3 years. He has not filed bankruptcy and the home is not in foreclosure. It went to auction in April of 2012 but did not sell and Chase did not claim it as an REO it reverted to the sellers name.

Any advice would be helpful!

Thanks,

Jeff

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