When wanting to do a short sale with the bank, do I need to contact the owner of property or go directly with the bank. For instance, there is a home three doors down from my residence, in a great neighborhood, and very well kept. I just saw it in the sheriff’s sale list. It will be going to auction on 3/2/06.
…The lender is ABN AMRO. I’ve dealt with them on a conventional loan. Anyone know how they are dealing with investors on short sales and am I too late?
THXS
James
In order to start the short sale process, the minium you would need is the authorization letter and purchase contract from the homeowner. You can then contact the bank by reviewin one of the many letters they send to the homeowner to get the phone number. Now time is of the essence. Now personally I have not done a short sale yet, but the process remains the same for most states. There may be laws in your state that dont apply in mine. I’m in florida. here is my disclaimer, if I am wrong on any point, the expereinced short sale invetors can correct me about the process.
steve