OfflineHi every one,
I was just going through the MLS properties that my two realtors sent me and I noticed that about half or more of them are short sales. My quetion is how should I go about subitting offers through my realtors?
Ed.
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Short sale offers through your realtor
Posted on: Mon, 08/29/2011 - 21:57
Ed - typically short sales are a strict process. The offer will generally require your mortgage approval letter, as well as bank statements showing you have funds for the downpayment and closing costs. Then the bank will probably take 1-3 months to approve it. There also may be a restrictions on reselling the property within 90 days.
If you're looking to assign contracts, your best bet is FSBO with no real estate agents involved.
Hope that helps clarify.
- Tom