how low can we get for short sale price?I want to build a new home, and found a knock-down property of suitable size and location. I know that now isn't the best time to buy or to build new, but I can't stand living in the crappy rental where I am and I hate all the old houses which are the entire available inventory in the town I need to be in, which I need to live in that town due to the schools for my kids. There's not many choices in the very small town where I want to buy, but finally there is this opportunity available. It is an FSBO and the seller told me it will be a short-sale because he realizes what is owed on it is more than the market would support as a sales price right now. Buyer's mortgages are with Washington Mutual and Wachovia, which we have heard rumored should be some of the easier banks at this moment in time to negotiate a short sale. Seller is very motivated because he already bought a new home (after taking the equity out of this one) and he now lives out of state. The home has only been on the market for about 3 months, though. My question is, how low do you think we could get the price insofar as successfully getting the bank to agree to the short sale? What percentage off what they are owed?October 24 2008 - US0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.