You described a short sale as being painful? Can you describe a little bit more?
– I think I did in my previous post. If you have more questions I will post another example.
Say a home last sold for $3M (zero down) and is now an REO. Can I just offer $1M and let the offer sit there? how do I even make an offer?
– Yes you can make an offer. Any qualified realtor can work with you to do this. Or you can find who is listing the home and call them up. Most REO properties (bank owned) have realtors/brokers representing them. Lenders do not sell directly for liability purposes.
