Short Sale, Can I wholesale.

[Lekisha Cole]

I have a few properties that are worth less than what the owner owe. How can they get permission to short sale their home and will the bank stop me from wholesaling their house to a buyer?

[Jon Holdman]

If you're wholesaling a short short sale and making a profit, you're taking that money right out of the bank's pocket. If the seller sold it directly to your end buyer for the price you're getting, the bank would net more. So, they are going to try to make this difficult for you.  The bank almost certainly forbid any assignments.  You'll probably need to do a double closing and use transactional funding.  They may also put in a minimum time you have to hold before transferring the property to someone else.