The Property Looks Too Good!
The property I am considering for a short sale looks too good! Of course there is some room for improvements yet there is no way I’ll be able to convince the bank that major rehab is required. Most likely this property will sell for its FMV.
My guess is that this property is a bad candidate for a short sale and I should be walking away from this deal.
Any other thoughts on the matter?
Please let me know if you need some other info to answer this question.
Thank you! 
You might be able to talk to the bank, and still do a short sale. It all depends on if they want to get it through the foreclosure process. They then have to wait through a redemption period, if your state has one. They then have to hire someone to market and sell the property. You can always try. The worst thing that happens is that you spend a little time trying...
Good luck
If you feel it's not a good idea for a short on this, can you take it Sub2?
If you do try a SS and it fails, what is your next option to secure the house?
Maybe provide us some of the numbers so everyone here can take a better look at it for you.
It reminds me of the old legal maxim: "If the facts aren't on your side, argue the law; if the law's not on your side, argue the facts. If neither are on your side, yell a lot!"
In this case, if the condition isn't on your side, argue the market. If the market's good, you'll either have to be the smoothest, easiest person do deal with or let this deal float on by.
On a short Sell -Correct me I am wrong.
it isn't always a bad lookin house -the people are having a bad go at it and just need out. SO going through a short sell it can help them plus help you.
I always try to remmeber I am out there to help people and not just out there to make aalot of money off people. What goes around comes around (as the old saying goes)
Thanks you everybody for your feedback!
I am not sure if there is a point to do Sub2 because there is not much equity in the house. According to my appraisal the house is very likely to sell for about $350k while mortgage on the house is $327.
Now mortgage amount is a fact while appraised value is just an opinion
Also I will have some expenses of my own related to financing, some minor touch ups and marketing with real estate agent.
It looks like the profit from this house is just too little ….
Do I miss something here?