It has no bearing on what price the lender will agree to.Points to know....First, use an Experienced short sale Buyers agent....there are just to many things to look out for in a short sale.Find out how many mtgs/liens are on the property....many times a buyer has to pony up extra money to satisfy a junior lien holder, above what the first lender will offer them.Assuming all paperwork’s has been submitted, expect 30-60 days for bank to do a bpo and accept=counter your offer.Submit a gc repair estimate with your purchase agreement.If the comps are $200k, you’ll never get it for $80k unless there is a serious documental $100k problem with the property.

In this instance, you could collect $50k plus FC costs and any excess proceeds would go to junior lienholders and, once they're paid off, to the previous owner/debtor.

Best, Junior

Junior

I had an agent friend trying to buy an REO, got stalled by “title problems” no timeline to cure......a quick search of the foreclosure file showed they forgot to name a junior mtg in the foreclosure...they were going back into court to vacate the foreclosure, start again naming the junior mtg holder, yada yada.....6 months minimum.

You do not need to be a veteran to assume this mortgage as they no longer need this VA benefit.The difference between the loan balance and sale price (approx $95,000) would need to be paid for via check  at closing as I have yet to find a mortgage company willing to act as junior lein holder. 

My name is Edgardo and I am a junior at The University of Texas at San Antonio where I am majoring in business administration management and a full time employee at a law firm.

The housing average in that area is around 120-125k and the elementary/junior high schools are right behind this property too.

Only thing though U want to do this through title at least pay for a title report when you do a deed in Lu your taking title subject to all things on it.. and there could be junior liens or loans to you.. that if you carry through with the foreclosure they are extinguished.. so do check first.then if that's clear make a deal with the first.. your either going to end up owning it.. or maybe the greater fool theory will play out and someone bids it at the sale and makes you whole.. or you can lower your opening bid to make it enticing. you don't have to start your bid at 1oo % of what your owed.. during the crash I did this often I knew at 100% of what I was owed I would end up owning it.. and having to deal with it.. but if I lowered my opening bid to just get my principal back many times it sold a the sale. and I did not have to deal with it past that..

Although, they will market these properties when they come across them but they are usually handled by the junior people in the brokerage.