Updated almost 15 years ago on .
midly motivated short sale
Hi all. I have a seller of a property in probate. Property is underwater; worth about 35K but owes 100k on it. Property was owned by seller's mom who passed a few months ago. Seller wants to do short sale but told me he is the beneficiary of an insurance policy that is probably enough to pay off the mortgage balance. However, he does not wish to use the funds to do so. Since the bank will not OK the short sale once they learn of his financials, is there a way I can still profit from this deal or is it just dead in the water? Seller doesnt want the property but is unwilling to use any funds he inherited to pay balance.