successfully, what are the options of the person if they do not want to hold on to the house. Any thoughts on how best to move
the house.
It depends on whether the house needs fix-up or it’s ready for someone to occupy. If it needs fix-up you want to market it to rehabbers looking for properties. If it’s ready to move in you can try and sell it out right or on a lease/option.
All that being said, you should have your exit strategy all planned out before you even begin the short sale process.
Typical exit strategies are build your buyers list with small classified ads so you can wholesale it to another investor.
You can use private money to buy it and then rehab it to resell.
You can also hold and rent if you choose.