Seller Short Sale???
I was contacted by a lady today wanting to sell her house before the auction on the 27th of July. She said another investor made an offer through her. He offered 202k, and she owes 250k and it appraises for 252k. The lender turned down the offer of 202k but said they would accept 220k
Is it possible to deal with a lender through a seller? I have an investor with the cash needed to close this deal. Is there another way to approach this deal without dealing with the seller? If so, what should I offer? $218,500?
Thanks for any advice.
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