OfflineWhat additional information, besides the neighborhood comps & the owner's financial picture, are you giving to the lenders in order for them to approve a short sale?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
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Each lender will have a short sale package that they will require the home owner to fill out and send back to them. What you you stated pretty much covers it, but they will also need to write a hardship letter that is explaining why they are in this situation, and they may also require an offer to be sent with all the information.
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If they the banks require an offer to be sent in with all the information. Will the Lender also require that the property be listed in MLS after or while the short sale approval is being determined? How does the investor make their profit from the short sale if they're not going to actually be buying the property themselves but want to sale it to end buyer who may be using conventional financing or investor who is paying with cash? Is the investor (myself or someone else) acting as the negotiator in the short sale between primary lien holder and/or subsequent lien holder?
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.