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Updated over 17 years ago on . Most recent reply

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1,350
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Minna Reid
  • Real Estate Broker
  • Jacksonville FL & Middletown CT
599
Votes |
1,350
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A few questions about short sales

Minna Reid
  • Real Estate Broker
  • Jacksonville FL & Middletown CT
Posted

Now I'm no expert with this, but I do get at least a few calls now and then from people who are behind, and need out. They generally owe close to 100%. Not knowing much about how to pull off a short sale, I generally steer them in some other direction. But maybe I'm losing business. So maybe I should educate myself.
What is the general criteria for a bank to agree to a short sale?
What kind of discount can I expect may fly? can I pull off 30%+?
How difficult is the enitire process? does it work often?

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