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Updated almost 14 years ago,

User Stats

359
Posts
199
Votes
Michael G.
  • Wholesaler
  • Bay Shore, NY
199
Votes |
359
Posts

ABC Close on a short sale

Michael G.
  • Wholesaler
  • Bay Shore, NY
Posted

I have 2 short sale deals in the pipeline.

Both have purchase and sale agreements between myself and the seller. (The ab part)

My question is.

I will have a cash buyer lined up to sell these properties to on the same day I buy them (the b c part). When do I go to contract with the cash buyer? I'm thinking I have to wait for the lender to approve the AB sale or do I just go to contract with the cash buyer with him buying at the listing price or a lesser price that I deem acceptable?

My thought is that on the day of closing I Ishould ready to close with 2 signed contracts ready to go A to B. And B to C.

I just want to make sure I covered all the bases and have the order of execution correct and didn't miss the details.

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