One of the interesting parts about doing short sales is when you are dealing with a multi-unit building. Short Sales are pretty straight forward when you are dealing with an owner occupied who is unable to afford their monthly mortgage and asking the bank to forgive the difference on what they owe and what they can get from a buyer. When dealing with a multi-unit building like a duplex then you also have to factor in the current tenancy and/or any lease agreements that may be attached to the house. Also, if the owner is still collecting rent it could be a conflict of interest if he/she is trying to show adequate hardship to the bank. Although, these conditions are just hypothetical and don't apply to every property for sale, the fact is that you should work with a local short sale agent who can guide you through the short sale process. Short sales are a great way to buy a home in today's market if you understand the pros and cons of doing a short sale. For more information on Laguna Beach short sales please contact us today at 949-355-1622.