Short Sale Presentation - Posted by waynepdx
Posted by waynepdx on July 08, 2002 at 11:59:32:
I am venturing into a new part of REI and a protocol question has popped up.
I am about to make an offer on a Fixer upper in Pre-Foreclosure.
It is going to be a short sale. I met with the Realtor on Saturday along with my contractor. I took about 40 pictures of the interior/exterior and yard of the property. It is in pretty bad shape. I plan on using the pictures and the estimates from my contractor to rehab the property to negotiate with the bank for a short sale.
The Realtor stated on Saturday to turn all the stuff over to her when I was done and she will contact the bank regarding a short sale.
I do not want to do this. I want to negotiate with the bank directly.
I know she is just trying to protect her commision which is understandable.
Since this is my first attempt at a short sale-I am confused about the protocol.
I know I can make in my offer-Price to be determined from negotions with bank regarding short sale.
Can I also make the offer contingent on the seller signing my Authorization for Release of Information so I can negotiate with the bank for a short sale?
I also plan on paying the realtors commision as the owner is strapped for cash and has already abandoned the property.