Estates And Short Sales
Can anyone tell me if a bank (Wells Fargo) is likely to entertain a short sale on a property that is now in an estate. The son who is the personal representative would like to sell the property but it is in bad shape. It needs extensive repairs. Anyone have experience with this?
What's it worth in it's as-is condition, and what's owed against it? The answer will indicate if a short is feasible, irrespective of the health of the mortgagor.
The house is worth in best condition 60,000 in it's present condition 25,000
Quote:
On 2004-10-02 07:26, TheShortSalePro wrote:
What's it worth in it's as-is condition, and what's owed against it? The answer will indicate if a short is feasible, irrespective of the health of the mortgagor.
OK to part one. You can aboslutely confirm and defend a value of $25,000 in it's as-is condition.
Now, what's owed on it?
[addsig]