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How do I determine what to offer on a short sale?

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I want to make an offer on a short sale, the loan is owned by IndyMac which the FDIC announced on Jan 2 2009 that they struck a deal to sell the failed mortgage lender Indymac to a group of private investment firms. The investors will in1.3 billion in capital and the FDIC has agreed to share the losses on the mortgages. With all that said, how do I come up with an offer?

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February 06 - Delray Beach

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Sandra Jacobellis, P.A., "sandyjacobellis"
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Sandra Jacobellis, P.A., "sandyjacobellis"

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Are there any other short sales that have sold recently in the area? Have you searched the public records to see how much is owed on the mortgage? I would start there, and from that you should be able to determine a starting point. Another factor would be how far along the short sale is... You definetely want to go into contract before it goes up for auction, or taken posession by the bank...Then make your best offer...

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February 06

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Question A house that is listed at 399,000 sold 3 yrs ago when the the market was much better. A fair bid?

Question What Happens?

Question short sale

Question Reduce offer on short sale with recent lower comps?

Question How do I determine what to offer on a short sale?

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Question A house that is listed at 399,000 sold 3 yrs ago when the the market was much better. A fair bid?

Question What Happens?

Question short sale

Question Reduce offer on short sale with recent lower comps?

Question How do I determine what to offer on a short sale?

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