Updated over 12 years ago on . Most recent reply
1st shortsale... Alot of questions.
Hey team!
Heres the basics:
SHORTSALE
ARV: 155-160k
BPO target: 140k(I will be there to do everything I can to influence price)
Target purchase price:112k.
1st of 220k (WF) and 2nd of 60k (handled in bankruptcy court and home owner currently paying it down)
I am pleased to say a family friend has chosen me to handle their short sale. As you can imagine I have quite a few questions. So far I have called the bank (Wells Fargo) and asked them what they would like to have signed so that I may speak on their behalf... The one individual I have spoken to thus far claims "for certain loans the home owner needs to enlist the services of an agent" although he has no idea which loan my seller has nor which state the home is in. At this point I'm thinking I should call back and find a different person to get information from, because my understanding and please correct me if I'm wrong is an agent is NOT required.
Where should I go from here?