In the past few days I have received call after call from homeowners who have decided that they just dont like that investment property any more......It may not have increased in value or it may have had terrible tenants that have left it in a mess....there are many reasons to hate an investment property nowadays! The most important distintion here is that IT IS NOT a PRIMARY residence - Most agent s will agree that banks will not accept a deficiency on an invest,ment property ~ WHAT! ~ thats right! Banks typically WILL NOT accept a short on investment properties ~ HOLD ON THOUGH ~ that may be a myth ~ we have a client who is set to close on the 30th of Jan whose lender is accepting a short on the payoff WITHOUT a deficiency judgement or promisary!
Some questions that I always ask of someone who asks about selling their investment property short -