Short sales are challenging and the price offered is just one of several areas that must be taken into consideration by the lender. If there are multiple liens this will also complicate matters.
Consulting with an experienced Realtor who understands short sales will be your best option.
Some short sales are pre-approved by the lender (bank) for the price. If that is the situation, then that is the minimum amount that the bank is looking to accept. However, if there are multiple offers -- there is a possibility that the seller will want to accept an offer that is above that approved amount and submit that offer to their lender. Note, not all short sales are pre-approved so the list prices are not guaranteed.
Feel free to contact me any time.
Direct phone 818-903-2040
Bre license #01712757
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