unloading inherited property in Miami

[Mark Reed]

I'll try to be as detailed as possible here, with approximate numbers. My co-worker had a death in the family, and in turn, inherited a house. The house is still owned by the bank, and it is still mortgaged for about $245,000. The bank has told him to make a cash offer on the house to clear the mortgage, even if the offer is lower (essentially a short sale). Problem is, co-worker doesn't have the money, and doesn't qualify for the money right now. Separately, he has received several calls from investors offering cash offers for the house. Any advice on what he should do? Can he act as a wholesaler between the investor and the bank? How will this work? Any info/questions would be appreciated. Thank you in advance.