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Updated over 5 years ago on . Most recent reply

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Edwin C. Natal
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Can you wholesale a property that’s on short sale?

Edwin C. Natal
Posted

Am I able to wholesale a property that’s on short sale and if so what advice would you give. All info appreciated. Newbie here.

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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,858
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

So, let's review.  The lender is about ready to take a loss on the property.  And, the lender has agreed to do so only if they have the right to approve the sale and the contractual terms.  As a former banker and a broker, there is no way that a short-sale lender is going to take a chance on having a "maybe buyer."  The contract will not be assignable under this scenario.  It's not worth kicking those tires.

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