Can I Short Sale this?

The home owner is behind only one payment. The property has been on the market for months. It needs some renovation work to sell. The seller is extreamly motivated and cooperative. Can I put a short sale offer on this? Thanks!

[b][/b] As quickly as you can! Thats a goal mine waiting to be worked! The bank will love you! The owner will too! After you pick-up your check at closing you will love me too!( litterally only). Go on over there and get your money! :shocked What are you waiting for?

Thanks Doctor. I’m going out to the property Friday. I’ve never done a short sale. Do you know of a cheap place to get templates for putting together the package? Thanks again!!

Also, how much of a discount should I be asking for? 30, 40%??

One month behind? Is there already a sale date? I guess you could see what the bank says.

Save yourself a trip and take a letter authorizing you to work on behalf of the homeowner with the bank.

You dont really need templates. Most of the items needed are going to be supplied by the homeowner( W-2s, bank statements, pay stubs). You should write the hardship letter, take the repair pictures, get the low comparables, and get estimates on the repairs. I dont know that fancy pantsy templates do any good.

Good luck- You will learn a lot on your first short sale.