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Author Topic: Short Sale Deal - Need Help to Close!!!  (Read 2244 times)

Offline kospiah

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Short Sale Deal - Need Help to Close!!!
« on: August 19, 2008, 11:15:45 am »
I've been able to negotiate a Short Sale deal valued at $400,000 for the price of $280,000.  The property is a four-year old two-family with a bonus Ground-level apartment.  The main apartments have 3-beds, 2-baths and large walk-in closets in the Master Bedrooms.  The bonus apartment on the ground-level has 2-beds and 1-bath.  The rents are $3,800 per month.  I need help to close this deal in two weeks.  Thank you all in advance for your expected inputs to make this first opportunity happen!

Offline christopher w

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Re: Short Sale Deal - Need Help to Close!!!
« Reply #1 on: August 19, 2008, 11:19:51 am »
Your buying at a 70% LTV which is good. have you contacted a HML to try and arrange financing? There is a list of them on the left side of this page. Start dialing for dollars. Good luck.
Christopher W
C-214.923.5781

Offline kospiah

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Re: Short Sale Deal - Need Help to Close!!!
« Reply #2 on: August 19, 2008, 12:21:02 pm »
Thanks very much, Christopher, for your input.  I'll try some of them right away!

Offline kospiah

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Re: Short Sale Deal - Need Help to Close!!!
« Reply #3 on: August 21, 2008, 10:32:55 am »
Unfortunately, before I could even start talking to possible lenders, the property is gone!  I waited too long... 

Offline christopher w

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Re: Short Sale Deal - Need Help to Close!!!
« Reply #4 on: August 21, 2008, 10:46:51 am »
Kospiah,

Another property will come along. Now you have time to get pre-qualified by a HML and a permanent lender. Get your ducks in a row so the next time a property comes along you will be ready to go.
Christopher W
C-214.923.5781

Offline kospiah

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Re: Short Sale Deal - Need Help to Close!!!
« Reply #5 on: August 22, 2008, 12:21:55 pm »
Christopher,

Thanks very much for your advice and encouragement.  That's exactly what I've started doing.

Offline JOHNNY Q

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    • http://www.therealestatevaultstore.com
Re: Short Sale Deal - Need Help to Close!!!
« Reply #6 on: August 29, 2008, 12:31:27 am »
Have your exit in place by having end buyer. To get more short sales advertise ,I buy house..
John Quebedeaux-CEO-Quebedeaux Financial Investment Holding LLC
Residential, Commercial, Construction, Land Acquisitions, Lot Loans, Bridge Loan, Hard Money, Foreclosure Bailout & Short Sales.MTN, BG, SBLC etc...

 




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