I am getting a lot of leads for pretty houses with no equity. Is it possible to do short sale with pretty houses and if so, why would the bank discount and what reason would I give??
Get the BPO to come in, influence him or her.
The bank will cut a deal, since they want to avoid realtor
fees ,loss of time and interest on investment etc.
One one deal, we have the property market value around
143K or so, but the bank bpo we got it to 120’s with a
note to replace carpets/paint etc and the value in the
low 120. The bank took a 10K hit and let it go for 110k.
We now have over 20% equity in it and this is a new
home.
-Krish