Can someone tell me where I can find an exit strategy. What is the proper procedure to exit in case the deal doesn’t benefit me.
If the deal isn’t profitable, then do not proceed with the deal.
It all depends on how far and how much you are into it for.
If you are SS the property then your contracts should have disclosures that read" Contingent on Lenders approval of Short Sale"
Do you have any $$$$ tied up into property?
Were you going to rehab or buy/hold?
Always, always have an exit strategy before you even begin to proceed with any and all properties.
Good Luck
I pay $1 in option money to the seller & have the option expire the same day as the projected closing date. That is on top of the contract being contingent on lender SS approval.