Updated about 6 years ago on . Most recent reply
Help with short sale?
My client mother passed away she’s looking to sell her home. Her mother took out a loan for 110k ARV138k
My first question is how do I negotiate and write up a agreement with the bank to lower price of what is owe on the property on the mortgage then release the loan afterwords?
Second question what do I need to sell it to do in this process?
Most Popular Reply
@Tone Mayfield the lender is not an owner and will not secure a realtor. If you wish to buy this property you or the owner need to go find a realtor to get this thing moving along.
Not sure what the other responses are about. Nowhere was VA mentioned. And a deed in lieu does nothing to help the OP purchase the property- which sounds like the OPs goal.
Based on the numbers given it’s sounding like a short sale...unless the work is incredibly minor.