How do I "wholesale" a "short-sale"?

[Joshua Barker]

I found a property that's a short-sale. Is it possible to write-up a contract with the bank and wholesale it to a cash-buyer? If so, what's the process?

Thanks much!

Josh

[Nick C.]

You won't be able to assign it if that's what your asking. You will have to close on it first and resell it. You could possibly double close on it, but most short sales have deed restrictions these days preventing the resale of the property for at least 30 days and sometimes as much as 120 days. If this is the case it will be in the short sale approval letter and you will need to line up financing.