Convincing the seller to sign...
Hello Sharon and DwanBent,
You have an example of a 'short-sale' deal posted that states:
Here is how it works. A homeowner calls you and tells you he is in foreclosure; owes $95,000 on his property; it's worth $100,000 and he is 8 months in arrears. He wants to move on with his life but can't sell his house because he owes what it is worth.
Here is where you come to the rescue. You meet with the homeowner and have him sign (1) an "Authorization to Release" form (this gives the bank permission to speak with you about the account), and (2) a sales contract for the amount you are willing to pay for his property. In this scenario, we are going to offer $50,000.
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1.) How do you explain to the seller that it will be to his benefit to sign a contract with a sale price of $50,000 in order to get himself out of trouble (on a mortgage balance of $95,000)?
Obviously it's what you need to show the lender, but how do you explain it to the homeowner? 
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