Short Sale tidbit:
When dealing with HUD and their appraisal value comes in less than the sales contract price you should expect they will want you to lower the contract price. With this in mind do not wait for HUD to tell you to do it. Take the initiative and amend the contract and get that to the loan servicing company asap and you will save several weeks of processing time. 88% of the appraised value is what HUD required to net.
Jack Lara, Broker-Associate
Better Homes and Gardens Real Estate
Main Street Properties
Mobile Real Estate Site: JackLara.com
Desk Top Real Estate Site: PensacolaAreaProperties.com