? For A Possible Short
to make a long story rediculously short.we have found a property that we feel is a good candidate for a short sale..when i called to the national branch office in the small town, no one had ever heard of a short sale before including the manager..after many pauses and dropped phones mtg dept manager simply asked if i would put in a fair offer for the property..no problem..however, are there any ramifications down the road to my offer..and why are they asking for an offer from me..the young ladie still owns the property and has yet to go into fcl..i just now ordered the short sale primer and i will probably figure it out but wanted some input from you pro's..thanks..
regards-pat
Some lenders, especially finance companies' branch offices, aren't that familiar with short sale practice, since foreclosure can be rapid.
In Louisiana, foreclosure can be an Executory Process, accelerated, and summary in nature.
The Clerk might not have understood what you were asking. So, get the Seller under contract, prepare the Short Sale Proposal, and submit to the appropriate parties.
Since the Lender probably doesn't have a short sale application form, if you Email me privately, I'll send or FAX to you a generic short sale application that should accompany your Proposal.
We've had some of these smaller banks want nothing more than a sales contract at HUD1.