Are short sales non-negotiable?
Yes and no, forst you should know that maybe 9 out of 10 short sales dont close. It is a long process that reuires lots of patience and a great deal of knowledge and skill by the agent to make it work. Many agents throw a number on for an asking price and think it will work, the deal could be doomed before it starts. The bank will only accept a certain percentage of loss in a short sale, you need to know the total amount of the mortgage, if there are 2 mortgages you can almost forget it from the begginning. The seller needs to be approved financially, the sales price needs to be acceptable by the bank and everything needs to be completed right the first time as there are no second chances. You can make any offer you want, but you really need to know what the bank will accept to know if it is worth 3-6 months of your life.
