Short Sale Double Closing in Todays Market

[Jack Krupey]

Hi Everyone,

I wanted to post a new thread about how to do these deals given current market conditions.
We have a cooperating seller who would be willing to just give us the deed in liu of foreclosure however we haven't filed due to the short sale.
We have a buyer for the property. Standard financing, non fha. (However for others please note any FHA Differences, I've read they have removed their seasoning requirements for 1 year?)

We have a good price on the short sale negotiated with the bank
What is the best way to set up a double closing so that we can retain the proceeds.
I've read about Land Trusts and Option Contracts and the pros and cons however I know the lending landscape is changing.
Is anyone using one of those double closing funding companies.

Right now two title companies have refused to to double closings. The bank we are short selling wants to see the hud and they obviously don't want to see anyone making a profit on the hud.

I know this thread has been discussed some in the past however with the ever changing market I'd appreciate a new update.

Thanks,