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Updated about 15 years ago, 11/22/2009
Making offers on short sales "subject to finding an end-buyer."
So I've read that we need to put a contingency in our offer to the short-sale lender. This contingency will say something along the lines of "this contract is valid if, and only if, the investor (buyer) is able to find an end-buyer for the property."
That way, we can get out of the contract if the end-buyer can't close the transaction.
Is this accurate?
Assuming it is....what is the rejection rate of these offers? How likely is it that the short-sale lender will accept this type of offer?
The A-B transaction will be funded by a transactional lender.
The end-buyer needs to be approved for a conventional loan first, of course. So is it a good idea to include their loan approval and/or credit report with the A-B offer, showing the short-sale lender that there is a serious end-buyer who is qualified? Will that help get the offer accepted?
And damn, am I the only one who likes creating threads in this forum??