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Updated about 6 years ago on . Most recent reply
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Can I wholesale a Short-sale
I hope this is the right forum category for my question.
Hello All I hope all is well.
So here are the numbers based on a seller's LIS PENDEN pre-foreclosure problem in Jupiter, Florida.
Overdue payments as of 6/15/11-12/15/17: $261,072.12
Unpaid advance balance: $18,018.92
Reinstate loan: 279,891.04
Unpaid principal balance: $430,030.33
Repayment of escrow balance $109,317.47
Unpaid late charges: $1,465.62
Unpaid interest: $110,350.33
Accelerated amount to-date: $669,982.67
Unpaid differed interest balance: $30,476.39
Interest rate: 3.080%
Maturity Date (month/year): 8/36
ARV from Real Estate agent: $650K- $750K
Repairs: $100K - $150K
After repairs: R.E Agent says it would resale back at $850k - $1,000,000
I'm planning to offer a short sale offer of $300K - $400K than wholesale or Fix/flip with a private lender or financial partner to split profit.
Question: Can I wholesale a possible short-sale?