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Updated almost 12 years ago on . Most recent reply

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28
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2
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Fredy F.
  • Wholesaler
  • California
2
Votes |
28
Posts

Putting a short sale home under contract?

Fredy F.
  • Wholesaler
  • California
Posted

For example, house has a listing short sale price of $50,000 is it possible to negotiate the price with a listing agent, put it under contract and wholesale to one of my buyers?

Most Popular Reply

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2,873
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James Hiddle
  • Altus, OK
690
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2,873
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James Hiddle
  • Altus, OK
Replied

J Scott said this in another thread. I suggest you heed the advice:

"I would highly recommend NOT trying to wholesale short sales these days. You will be required to sign an affidavit at closing indicating that you know of no transactions or agreements currently relating to the property that haven't been disclosed to the lender. If you have an end-buyer lined up already, there IS an agreement and your signing that affidavit would constitute fraud"

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