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Updated almost 15 years ago on . Most recent reply

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2
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Sean W
  • Residential Real Estate Agent
  • Seattle
0
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2
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Doing first short sale...Plz. Help

Sean W
  • Residential Real Estate Agent
  • Seattle
Posted

New investor planning on doing very first short sale transaction.

I'm going to meet the homeowner this week, and would like to get all of the necessary forms signed.

The problem is that I don't have the forms yet. I found a site offering forms for sale...are there any suggestions for this?

The homeowner has two mortgages on the property.

Any help guiding me through this process will be greatly appreciated.

Most Popular Reply

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885
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316
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Mark Yuschak
  • Residential Real Estate Broker
  • Grand Blanc, MI
316
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885
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Mark Yuschak
  • Residential Real Estate Broker
  • Grand Blanc, MI
Replied
Originally posted by Scott Hawley:
I work with an inestor who will negotiate the short sale with the lender and then can buy the short sale from the lender.
He, then, turns around and sells the home back to the homeowner at a discounted price, thus being the bank for that homeowner.
He has told me that he can do these anywhere in the country.

I bet he can do them anywhere in the country...until he gets caught. I wouldn't touch a scenario like that with a 10' pole.

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