OMG, short sales are so unpredictable as it honestly depnds on the bank. I've closed on a short sale in 2 months wherein I was able to obtain $470 out of the $500k owed, with lack of consideration for this missed payments , , , then I've endured short sales where I acquired an offer price that is now grater than the current post foreclosure list price because the bank insisted on a greater price. . . go figure.
Unfortunatley, despite what the "short sale" quick course Agents may tell you, there is no rhyme or reason as to what these banks decide to do and FEW AGENTS have the expertise or power over the bank's deciiosn . . . although many proclaim after taing a short course on short sales they are "experts".
With short sales, none of us are "experts", as the banks are unpredictable . . .. and this feedback comes from Agents I know that have been in the busines of short sales long befiore the current market.
Unfortunatley. livable v. non liveable vs. no central air really doesn't matter to banks as it does to the typical sale wher we can use that as leverage.
Unless a short sale has been "preapproved" Iin my view it is rearly worth the effort. , athough there are exceptions and your local agent with true kowledge of the short sale process will be most able to advise u of same.
Love and Peace,
Francesca Patrizio, ePro, SRES