Profile picture for harmon1661

Short sales & land contracts

IN AZ, Can you use a land contract ( or land for deed) on a home that is up for Short Sale?
  • August 08 2014 - Mesa
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    0Yes

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Answers (1)

Profile picture for Dan Tabit
Harmon, 
No.  Banks are trying to get out of a bad loan and don't want to back it up with another risky proposition.  Cash or financing is all that would be considered.  The only possible exception would be to put enough down and resolve the seller's upside down position, but then it's not a short sale anymore.  
Any sale for less than what is owed will require lender approval and take 2 to 9 months to resolve.  
  • August 09 2014
  • 1Yes

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