Your question seems more sellersâ€™ question, than buyers. However, important is the fresh appraised or BPO-Broker Price Opinion, (1 to 3 months mostly) value of the property. And max. you can go up to 85 to 90% of appraised value. Of course there are lots of other nuances involved and it will take several hours of typing to go over everything and at the end it will be a book. But donâ€™t worry, the only thing you need, is an agent with good experience in short sale.
If you need something more specific, because each short sale is kind of unique, call or e-mail me directly.