Here is a document that explains the terminology:https://singlefamily.fanniemae...

I've worked for local lenders and big lenders and a lot of it comes down to a convenience factor- if you work with a lender that is licensed in multiple states you save yourself the headache of sending your tax returns and re-explaining your business goals and plans a hundred times over.

The potential buyer needs about 6 or so spaces and I'd like to have suggestions for creative solutions to achieve both objectives.

In this case, based on the owner saying he didn't care about the house and just wanted to walk away and lose it, my theory is that the couple who owned the LLC that ended up buying it explained the procedure to him and they worked together to negotiate the short sale. 

I would appreciate it if anyone could explain it in the comments.

I cannot remember the details after I was told I can’t do it - he explained it but it was several years ago

If yes, please explain.

@David M.I’m not explaining it well then.

That explains why closed sales were up 37% in the greater Austin metro in April 2021 and up +51% in the City of Austin.

And if you want to have a wild Wednesday night, here's an article that explains it in-depth:https://www.thetaxadviser.com/...