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Short sale

Looking for some advice on a high end home that was listed for over one year without any offers.  The sellers last payment on the house was 18 months ago.  He has since moved out of the house (6 months ago) and according to the previous owner he has not received any foreclosure notices.  The house sits empty with no attempted activity from the bank (single mortgage). I would like to attempt a short sale offer.  The previous owner is willing to help with the process.  Two questions: First with a short sale can you make it contingent.  Second, what other caveats should I be looking for.
  • February 09 2013 - Northeast Tacoma
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Answers (3)

We may need more information:  contingent on what? and what other caveats are you referring to?  Most agents are familiar with both sides of a short sale, but if you can provide more information, we may be better able to assist you.

  • February 09 2013
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It is possible that the house got lost in the shuffle at the bank and they may have lost the paper work of the Mortgage.If it is so the owner can not do anything about it without alerting the bank of the situation.
The owner should move back in to the house and continue living there, until the bank takes a notice and sends him a notice. This may never happen.
  • February 12 2013
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If you are in contact with the owner- have them reach our to the lender to start the short sale process- Ther needs to be an agent involved , so find out if your agent can assist.
  • February 12 2013
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