I am trying to buy a property which is under Option agreement with investor. Seller has paperwork signed and now investor has an equitable interest in the property. As per him, he can sell the property outright.
Is it possible for the investor to negotiate a short sale with the lender as well as to sell this property to the end buyer.What are the chances he will get short sale approved? What are the options for the lender to sell it directly for better price than investor is offering them. Please share your thoughts and experience.
Alot of Investors are using Option Contracts to tie up the property while they are negotiating the short sale. Depending on the Contract, the ones I have seen do give the Investor the right to market and sell the property.
Depending on if the BPO and negotiations are done right would depend if you are getting a good deal or not.