We are about to start negotiating with the bank on this short sale.
Owners owes $300,000 240K 1st and 60K 2nd
There are 31 houses for sale in a 1/2 mile radius some have been on the market for over a year. This will have to be deeply discounted to sell I think. Most houses in that area are asking 225K
House build in 2005
Need minor repairs
What do you think we should offer the bank?
Start at 120 first and 1 second
Do your due diligence.
Don’t go any higher than 150 total