Which should come first in a short sale? Putting the house on the market and and getting a buyer OR contacting the bank first about the list price?

Asked by Dr. Byan, Chicago, IL Mon May 13, 2013

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Bill J Delig…, Agent, Naperville, IL
Mon May 20, 2013
Work on ALL of them simultaneously - you can always change your list price if the bank gives you a different value.
0 votes
Santiago Ken…, Agent, Chicago, IL
Tue May 14, 2013
Depend of the Bank i am a priority broker with Chase bank , they sent me a lot of Shortsale ...and those owners they are current in their payments they want to do a shortsale and keep paying their mortgage ...in those cases they have an authorization from Chase

Depende ! en varios casos , los shortsale venta corta son iniciados por los bancos y cuando el propietario no lleva pagos retrasados , al menos en el caso de Chase
0 votes
Matt Laricy, Agent, Chicago, IL
Mon May 13, 2013
Either or. I think its best to get the whole packet ready to submit to the bank with the offer. Try ordering the BPO while its first getting listed.
0 votes
Don Tepper, Agent, Burke, VA
Mon May 13, 2013
It's being done both ways.

Ask your Realtor. However, it's a lot cleaner if it's a pre-approved short sale. Some lenders will do that; others won't.

Hope that helps.
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