Estates And Short Sales

Can anyone tell me if a bank (Wells Fargo) is likely to entertain a short sale on a property that is now in an estate. The son who is the personal representative would like to sell the property but it is in bad shape. It needs extensive repairs. Anyone have experience with this?

Comments(3)

  • TheShortSalePro2nd October, 2004

    What's it worth in it's as-is condition, and what's owed against it? The answer will indicate if a short is feasible, irrespective of the health of the mortgagor.

  • linenw2nd October, 2004

    The house is worth in best condition 60,000 in it's present condition 25,000


    Quote:
    On 2004-10-02 07:26, TheShortSalePro wrote:
    What's it worth in it's as-is condition, and what's owed against it? The answer will indicate if a short is feasible, irrespective of the health of the mortgagor.

  • TheShortSalePro2nd October, 2004

    OK to part one. You can aboslutely confirm and defend a value of $25,000 in it's as-is condition.

    Now, what's owed on it?
    [addsig]

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