So Many Different Suggestion On The Listing Agreemen. Confused!t
ShortSaleInvesting
I am attempting a shortsale with the 1st Mortgage.
1st mortgage is Americas Servicing Company Owes $464,000
2nd mortgage is with Accredited Owes $115,000
Really bad mortgage fraud was done to get these loans, so she is really upside down.(inflated appraisels, crooked mortgage co. crooked attorney). So FMV is about $420,000
One of the requirments the package states is simply "listing agreement"
I m a little confused about the listing agreement. I ve been on the board and I m hearing many different opinions, dont know which is correct or the legal way of doing it. My realtor is scared b/c we are not sure how to legally do it.
Do I get the listing and put the house on the market for what they owe + realty commision. And Put it as pending?
Or Do I list it for FMV. Put it as Pending?
***How exactly should it be done, legally?****
***What happens if people see it on the market and try to put in an offer while I trying to complete the Short Sale?***
Please advise.