In some cases, they'll get paid directly by the lender (lenders will often factor this cost into the short sale numbers) and in some cases, they'll need to get paid by someone involved in the transaction.

In many cases, these require an arms length transaction which means you as the agent cannot buy the property yourself.

I understand that being a realtor you can make some decent coin for being a part of your own transactions but does being an appraiser lead a person to some other deals that might not be seen by realtors?

Because he has had problems with them he wants me to complete the transaction for him.My question is what do I need to have before I call the Realtor or bank to get the ball rolling on this deal?

There are pitfalls to these deals never disclosed (possibly not even known) by those who sell or advocate these convoluted transactions.

This way you only have one initial closing and a refi at reduced costs instead of a purchase transaction, then another full refi. :)

Jon I do have the cash for the transaction but was planning on financing so it didn't cripple me as I am a fairly new flipper cash is at a premium at the moment.

But, you can not evict them under your invalid agreement, so don't go there as their attorney will eat you alive and probably take a hunk of the property, who knows what.......The way out is to get to an attorney and turn this into a subject-to transaction.

I doubt it, sure you negotiate.Last short I was involved in it wasn't listed, but it wasn't FHA, so I can see where they want an agent listing it, if you don't have an agent (you should if it's listed) then the agent would be a transactional agent and they don't represent you, so you'd have to represent yourself.BTAIM, call and ask.

I've been involved with two real estate transactions in my life - my first house which I purchased and later rented for two years and my current home.