Has the Seller been approved for the short sale yet..hardships accepted?

If you have something under contract with them negotiating lower would likely be approved sooner than later....Kudos,Mary

I wouldn't put good odds on getting a short sale approved and closed with the holidays and a mortgagee with judgement in hand as the fire drill to beat the deadline will likely result in offers that the mortgagee is not willing to humor.

Hey gang,So I was wondering about the process for making offers on Multi-Family apartments.I've had experience with purchasing small office and 1-4 unit properties in past.I was wondering what the process is for getting Pre-Approved and submitting offers for 5-15 unit apartments.1.

That means getting a mortgage originator to process the loan, draft terms and approve it, possibly close it and having the deal under the hand of an attorney.You may need to sweeten the deal with your buyer, pay costs, lower price, but they need to cooperate.If you can think of some song a dance to get them to leave happy, cash for keys and kill the deal, that would be a great way out for you.

If you're splitting into over 4 parcels, you will need to have a subdivision map drawn up, and go through the approvals with the State of California.If on the other hand it is zoned for apartments, or some other high density use, it's possible that someone could buy it, and then develop out a multi unit project, etc.Are there utilities to the property?

Getting a good stable job is the first thing mortgage broker consider before getting you pre-approved.

Respond to all their requests as quickly and completely as possible, this is key to having the best chance at getting the loan approved.

I personally would try to close before june and have her get pre approval and start looking now

Looking at an single story 8-plex building and the numbers work, but there are a few items that bothered me.All eight units (1/1) are currently occupied, tenants are either on month to month leases or no lease at all, but they all pay on time (according to seller).It's an approved short sale, owner is the broker, and is saying tenants are getting a bit impatient with frequent visits from buyers, he wants the buyers to waive the inspection contingency, which I have no problem doing if I can see ALL the units at my own pace and make sure I know what I am up against repair wise.There are a series of buildings in a row and the tenants all seem to know each other.When I went to see the building, the owner/broker told me someone would meet me there, a Maria.