Say that the house is built in 1950, has a lot of the original plumbing, needs some repairs that basically weren't kept up/upgraded with codes over the years due to a variety of reasons. Can it be sold as-is without having to change anything to conform with codes? Is it possible to get the mortgage company to take less? It is my understanding that you can't do a short sale on a property that basically isn't behind on the mortgage. Is it better to willingly let it get behind on the mortgage and save money until they agree to a short sale or?
Read more: What are the conditions for selling a home under a mortgage?
