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HomeForumsForeclosuresWorking short sale prior to being listed.
Chad McIver's profile image
Chad McIver's profile image
Chad McIver
  • Appraiser
  • from St. Charles, Missouri
  • Member since Aug 21, 2010
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63
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20
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Chad McIver's profile image
Chad McIver's profile image
Chad McIver
  • Appraiser
  • from St. Charles, Missouri
  • Member since Aug 21, 2010
Connect
Chad McIver
  • Appraiser
  • St. Charles, MO
20
Votes |
63
Posts
Foreclosures

Working short sale prior to being listed.

Chad McIver
  • Appraiser
  • St. Charles, MO
Posted Jan 28 2015, 11:27

I have a friend of a friend that is needing to short sale his condo.

He currently has a 1st, 2nd and 3rd mortgage.  And between the 3 owes more than it is worth.  I would possibly be interested in purchasing for what he owes on the 1st.

How would I go about getting this done if he has not listed the home?  The 1st is with US BANK.

Property is in as-is condition, needs a full rehab.  I would be able to pay cash for the property.   Just not sure if banks would negotiate if the property has not been listed.

Thank you

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