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Next, we explain that we will not attempt anything, until we have received the complete short sale package and also a signed purchase agreement. We at this time, leave a check list with the property owner. As soon as the owner has the complete list, we will set another appointment to meet, collect the paperwork, sign the purchase contract, and any addenda that are required. By joining in on the forums here on Bigger Pockets, you will find answers to all of your questions and more.
To answer your questions.
We explain that a short sale is pretty simple. This is when a lender or lenders agree to accept less money than what is owed for a certain mortgage. Upon the agreement, the sale of the property will take place. We further explain that this process can take from 6 weeks to several months. The faster and more compliant we are, the quicker the process. Also explained is the fact that they, the owner, will not profit any funds in this transaction! We also state, that we will not in any way pay any funds, to the property owner, outside of this transaction.
pursue properties that are listed with realtors. If the property is listed, we simple let them know that we do not pursue properties that are listed. If the property is not listed, well here we go.
Short Sale Presentation
the property and then resell it.
I have received many requests and have been on several phone calls with investors of various types requesting for me to display how we approach each short sale presentation. I first will make a huge disclaimer: This is how my company approaches each short sale. There are many, many, and many more different ways to approach each deal. Feel free to use this approach.
When we receive a call into the office from one of our potential deals, we first ask this question. Is this property listed with a realtor? Our reason for asking, is simple, in our business plan we have decided to not Nike Sweater Just Do It
At the set appointment, we look over the property and talk to the property owner. We at this point discuss how we purchase properties. We state that in today's market, most properties that we are running into, the owner owes more than the property is worth. Add this to the fact that they are behind on their mortgage payments. This leads us into the conversation about "short sales."
a title company, or get one from a Realtor.
Our next step is to define who we are. We state, "We are a local investment company that specializes in purchasing properties that are in the foreclosure process." We also ask is they are interested in SELLING their property. If Nike Sports Pants For Girls they are interested in selling their property, we set up an appointment to look at the property.
2) You will never be able to assign a contract that a short sale has been accepted. (Those days are long gone!) You will need to close Nike Sportswear Bonded
1) We use the FAR/BAR (Florida Purchase Contract). But for California I reccommend to use the California contract. I know it has all kinds of addenda, but it will also cover you pretty well. If you need a copy I can eMail a copy, Google it and you will find a copy, ask Nike T Shirt Hoodie
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