[ChrisnL]

I have 2 rental properties in Arizona that are vacant, and a undeveloped piece of commercial land. Can I do a deed in lieu of on all 3 of these properties, since none of them have sold in the last year, or is a foreclosure a better way to go?

[Miker70]

A deed in lieu is always the first and last thing that is offered to the lender of record, but, the lenders response will nearly always be try and sell the property in a short sale condition for at least 90 day's, then we will talk about a deed in lieu. The last thing the lender wants is the property back, it costs them $57,000 per property to foreclose on you, so the last thing they want is your property, but for you to do whatever it taks to sell it first. Let me know if I can be of help to you regarding this matter. I am a realtor in Arizona that only works with people that are either facing or heading for mortgage default.