Quote:
Originally Posted by Bill Keegan
I'd put my money on option C. It sounds to me like he was unclear about what constitutes a short sale, and now that he is learning the hard way that he might not be able to sell it for enough to cover the mortgage(s), taxes, fees, commissions, etc stc, he is HOPING to convince the bank to take a short, so he doesn't have to come up with the additional needed cash.
It's unfortunate but true; there are people in this (and everyother) business who really don't know what they are doing. He appears to be one of them.
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I agree with you. But this looks like a long process and now the buyer is trying to decide if she should give the seller a 3 month extension on the contract. I am leaning towards taking her back out into the market to start shopping again
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