I am involved in my first Short Sale negotiation and the currnt lender to the current note holder requested that I submit a contract to purchase the property to the current note holder.The current note holder will submit the offer to the current lender with a letter of hardship and supposedly a HUD1 settlement statement.

How long have you been involved in real estate, and in what capacities?

These deals may involve a short sale, where you convince the bank to take less than what they're owed.After the auction the property often goes to the bank.

My question is why isn't any professionals firms and law firms get involve on faciliating the mulit-millions and billions dollars with the large capital investors and banks senior officers or their legal department?

In a state where there is a 2% transfer tax a round trip from you to the LLC and back to you will cost you 4%In one location I know of the county waives the transfer tax when going between an individual and a trust as they do not want to tax someone organizing their estate (estate planning many times involves transfers into or out of a trust).Pull out an old closing statement or contact a closing attorney if you use them in MD.

Still employed; but got involved in a debacle and a waist of time on the REO list phenom.

If you lack the money why get involved?

Great information........I thought a lawyer would need to be involved.

YES, I always get title work. ...Okay rookie question: I thought one of the advantages of wholesaling was the minimal cash needed and risk involved.

I am also involved with my very first "Short Sale" and experienced alot of upfront concerns with getting someone in that department to talk with me.One of the keys is to make sure that the person that you are tryig to buy the home from provides the lender with a "Letter of Authorization" to speak with you regarding this property.