Looking for some
This is a property that I'm buying on a short-sale:
Owner Bought in 4/04
Mortgage Balance = 315K
Market value = 375K
8 months in default
3 Family, all units rented
Owner's already received notice of default and the auction will be set probably within the next 30 days. I'm thinking of offering 283K for this property which is exactly 10% under owner's mortgage balance before default. I'd like some opinions as to how much I should make my short sale offer. This will be hard money financing.
:groovy: