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The heirs were never added to the title, the executor of the estate is who wanted the short sale. In all of the cases I worked on, I knew the family and was asked to help them get rid of the property. I guess they could have let it go into foreclosure but this would have just dragged out the settlement of the estate.
Harry, in your case, I believe that in Florida, the property would go to the widow since she is surviving spouse, not sure though.
I believe the benefit is getting the estate settled so that everyone can move on, we all know what kind of a mess foreclosure would be. On my latest sale, the estate wanted to do a deed in lieu and Wells told them to try to sell if first and from what I saw happen, Wells was fast to approve the sale
Good point Brian, as long as it takes to foreclose, the estate cant settle which just drags all of the familys grief out longer. That could be a year or more here in Florida
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