Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Chicago Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

29
Posts
12
Votes
Faraz Tariq
  • Real Estate Agent
  • Chicago, IL
12
Votes |
29
Posts

Looking for REA w/Short Sale experience in Northern Burbs

Faraz Tariq
  • Real Estate Agent
  • Chicago, IL
Posted

Hi All -

I'm attempting to assist a family member speak to an agent about selling their home with the possibility of a Short Sale with payoff.  

This individual will not be able to qualify for financial hardship, yet, the monthly payments as well the property size just do not make any sense anymore.  

After some preliminary research, it appears that as long as you bring the difference between principal amount and sale amount to the closing, this would not be an issue.

Are there any other avenues of sale that would lessen the need of having to potentially bring a decent amount of money to closing?

Love to hear ideas and ideally looking for find an actual REA to work with on selling the property!

Thanks!

Loading replies...