Posted by Grace on May 31, 2002 at 18:46:17:
Hi Jerry
I also have been working with short sales where the bank has required the property to be listed. So we listed it with my realtor for market value. Now that property needed alot of work. I wasn’t really concerned that it would sell in its condition. But if it did, I worked out a finders fee with my realtor if it sold and promised to list it with him if our offer was accepted.
We are really happy when we are able to help homeowners prevent foreclosure even if we turn out not to be the buyers.
As it turned out, the property didn’t sell through the realtor, and the bank did not accept our short sale offer. It ended up going to sheriff sale where the bank took it back. All that work for nothing. Next…