I’ve been boning up on the best ways to negotiate and manage a SS transaction. I also am signed up to do BPOs, although you have to be quick on the button since a lot of agents are doing them these days (I haven’t actually go to do one yet, I am always getting beat out for the assignment).
Here is something from Today’s Realty Times that I thought you should read:
Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt. This is what they should know.