Short Sale 101 - some tips. strategies and advice please

[Ranjit Wasu]

Hey all,

I wanted to ask for some more tips and strategies on Short sales and how to best approach them.  Is there a way of tackling these to ensure that a good deal is agreed to.

I have seen one not too far from my town on zillow - and I understand that its a negotiation with the bank and the seller, but how could one be creative about such deals:

Is it something that one could consider a percentage offering of the requested price, minus the potential rehab work required.  It needs a some work:

- new kitchen

- aesthetics to bathrooms

- new paint job

** There could be more to it, but what i am getting at is how could one get this under contract at a fair price to either whole sale or fix and flip?

1. Could seller financing be offered to the seller in order to get it to a point where i could fix it and flip it and he can take the proceeds from there?

2. Get it under contract at a price agreed (by the bank)? and whole sale it? or as its a shortsale, will the seller not be in a position to sign a contract?

3. Subject to? -  i need to understand more of this concept?

4. **Any other ideas would be appreciated.**