Short Sale in IL

[Kenneth Picha]

Hi,

Does anyone have any inputs on the short sale process in IL.  My understanding is that it can be completed through and attorney or via me and  the bank. 

The individual selling the home wants to sell the home but at the price they owe.  This price is to high because the after repair value would not allow for an income for rental, a good selling price and the current prices she wants will not work for wholesale.  I have explained this to them and now it is on to the bank.

The house is by a college and is perfect for a rental.

If anyone has inputs let me know.

thanks

Ken