Point out any deficiencies and discuss them with the tenant.

I have been reading so many topics on this forum about deficiency judgment, lenders coming after the seller 6 months after the short sale etc.So I am thinking of going through a RE Attorney.

The terms of any installment contract will need to be underwritten if it is not an excluded transaction.Three, before you get into a contract, you need to underwrite or assess the ability of the buyer to perform and more often than not, terms, conditions and covenants will need to address issues concerning any deficiency the buyer may have.

It doesn't make any sense to me, but I have a feeling a bankruptcy attorney may say that to a homeowner all day long.In some states, the homeowner is protected from a lender seeking a deficiency judgement if they go through a foreclosure vs. a short sale.In AZ you are only protected if you go through a non-judicial foreclosures or get it writing from the bank.

Has anyone actually seen a lender pursue a deficiency after a short sale?

Much easier to file a deficiency judgment with a foreclosure than a short sale.

I intend to get something in writing from the bank that releases the homeowner from any deficiency.

I guess I am just wondering if the lender in first position has absolute and final say regarding the sale and the lender in the second position's only recourse would be a deficiency judgement?

(and that there's no deficiency judgment)I'm probably missing an obvious key point here

My observation, from limited data I'll admit, is that if there are other assets, the bank would rather take the property to foreclosure and file a deficiency judgment, if that's allowed.