1. How many loans are currently are currently encumbering the property? Any other liens?
2. Which banks are the loans with? Same banks? Different banks?
3. Where are you in the short sale process? Has the initial package been turned in? Has a BPO been done?
4. How many offers will be submitted to the bank?
5. Have they negotiated short sales before? successfully?
6. Is the time of closing important? or can you afford to wait for the approval?
7. Potential outcomes? Is the seller ok with foreclosing if things get rough? Any chance the seller may revert back to a loan modification?
If you’d like to know that the “right” answers are to these questions, give me a call, (916)230-3880. Or send me an email JenKleinSac@gmail.com