Short sale usually means that the seller is atleast 4 months behind in payments. In a short sales, banks sometimes accept less than what is owed on the mortgage in lieu of a full blown foreclosure.

The seller has no say in accepting less than the owed amount unless the seller can pay the difference. Banks are slow as molasses when it comes to approving the seller for the short sale process.

I wouldn't hold my breath while you wait for the bank's response. 30-60 days or more for the bank to approve the seller for a short sale aren't uncommon.

Good luck!

 

Definitely check w/ the county tax assessor on past taxes paid. I believe its public info. You may even be able to find in online by county, address, owner.

 

Its all public information, I checked online and found the info

 

Thanks!
there was a forclosure paper on the door a week ago, she OWES 139,XXX on it, so she applied for the short sale which isnt a sale but its not quite forclosure.... the bank just has to come up with a #, we hope they take our 90 w/ 6% back (closing costs)

we'd like to get it asap! out reception for the wedding is August 16, so I have quite a bit of work to do!

 

oh man, thats cutting close...

 

I wouldn't dink around too much longer, someone else might come in and give the asking price.

 

That house is a steal for that price.where i'm at it would go for an easy $500,000/$600,000.

 

were still waiting on the bank, this is taking forever!!

 

we were finally contacted by our realtor.... the bank counter-offered a nice price of 145K....

what a bunch of idiots!

Meanwhile we found a home for 145K 10 acres wooded, built in 1980, and 2458sqft

here is the link with pics:
Hillsdale, MI (49242) Property: 10 wooded acres with a private winding driveway, a...






Soooooo while the bank eats that home into forclosure were going to do a walk thru of this home. Its a bit more on the budget but it looks awesome, from the photos and its half way between Amber and I's work 10 acres woohoo! another reason to buy a backhoe plus its not far from the local golf course

 

From the pics, it's way nicer, and sounds like in a real good location.